The number of tax filers in Pakistan has increased from 1.6 million to 3.2 million, doubling compared to last year, announced Federal Finance Minister Muhammad Aurangzeb in a press conference.
The minister revealed plans to strengthen the Federal Board of Revenue (FBR) by hiring 2,000 chartered accountants and deploying tax audit experts. This will enhance the FBR’s audit capabilities, and efforts are underway to reduce human intervention in the tax system.
He further stated that non-registered individuals may face the blocking of their utility services if they continue to avoid registering. The FBR has access to comprehensive data that will be utilized for improved tax collection, and strict accountability will also be applied to tax collectors.
The Finance Minister emphasized the need for reforms within the FBR and requested provincial Chief Ministers to focus on price control committees to manage inflation. He mentioned that the inflation rate has decreased and urged the provinces to take responsibility for controlling rising prices. The minister also stressed the need to ensure that transportation fares are reduced in proportion to the decrease in petroleum prices.
The Finance Minister emphasized that if tough decisions are not made, the burden will fall on the salaried class. He also noted a rise in foreign investment, which is a positive sign for the country’s economy.
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