ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday said the business community was the backbone of the national economy and should be provided with every possible facility to enhance production and boost exports.
Chairing a meeting to review the affairs of Federal Board of Revenue (FBR), the prime minister directed the Board to work closely with the business community and resolve their legitimate concerns on a priority basis.
He also instructed senior FBR officials to visit Karachi during the first week of every month to maintain direct engagement with the business community and ensure the prompt resolution of their issues.
He expressed his confidence that Pakistan’s economy was on the path to stability, and the current year will be marked by economic growth and the expansion of business activities.
He said companies that comply with tax laws would be officially recognized and encouraged in appreciation of their contribution.
The prime minister emphasized that the government’s objective was to promote ease of doing business, encourage investment and exports, and make the tax system more transparent and simpler to strengthen the confidence of the business community.
The meeting was also briefed on the performance of the FBR and the implementation of ongoing reforms.
It was informed in the meeting that production monitoring systems had been installed in the sugar, cement, tobacco, tiles, and fertilizer industries.
The installation of production monitoring systems in the textile and beverages industries is currently underway.
During the past year, production monitoring in the sugar industry resulted in the collection of an additional Rs42 billion in taxes, the meeting was told.
In the cement industry, production monitoring led to the collection of an additional Rs 38 billion in tax revenue over the past year.
Similarly, the meeting was further informed that in the beverages industry, production monitoring generated an additional Rs15 billion in tax revenue during the past year.
The meeting was attended by Minister for Law and Justice Azam Nazeer Tarar, Minister for Economic Affairs Ahad Khan Cheema, Minister for Finance and Revenue Muhammad Aurangzeb, Minister for Information and Broadcasting Attaullah Tarar, Minister for Information Technology and Telecommunication Shaza Fatima Khawaja, Minister of State for Finance and Railways Bilal Azhar Kayani, Special Assistant to the Prime Minister Haroon Akhtar, Governor of the State Bank of Pakistan Jameel Ahmad, and other senior government officials.
