ISLAMABAD: Prime Minister Shehbaz Sharif has commended the Federal Board of Revenue (FBR) and Intelligence Bureau (IB) for their efforts to increase tax collection and stressed that all the relevant authorities should work together to increase national tax revenue.
The prime minister observed that stability in Pakistan’s economy was made possible due to the joint efforts of the team, stressing that everyone should collaborate for the country’s economic progress and the prosperity of the people.
The prime minister was presented with a report by the FBR and IB on operations against tax evasion and hoarding, PM Office Media Wing said in a press release.
According to the report, the joint efforts by the IB and FBR had resulted in the recovery of Rs178 billion.
These measures led to a Rs69 billion increase in tax revenue through company mergers and telecom sector dues, it was added.
The IB conducted 515 raids in the sectors of sugar, animal feed, beverages, edible oil, tobacco and cement. As a result of these operations, Rs. 10.5 billion in additional taxes were recovered by thwarting attempts at tax evasion, the report added.
To overcome hoarding and artificial price hike, the IB carried out over 13,000 operations in the sugar, fertilizer, and wheat sectors, seizing illegally hoarded goods worth more than Rs. 99 billion since April 2022, the report further said.
