Prime Minister Shehbaz Sharif on Wednesday praised the business community as the cornerstone of the national economy, emphasizing the need to provide all possible support to increase production and promote exports. During a meeting reviewing the Federal Board of Revenue’s (FBR) operations, he instructed the Board to collaborate closely with business stakeholders and address their legitimate concerns as a top priority.
He further directed senior FBR officials to visit Karachi in the first week of every month to maintain direct engagement with the business sector and ensure timely resolution of their issues. Expressing optimism, the prime minister stated that Pakistan’s economy is stabilizing, anticipating economic growth and expanded business activities in the current year.
Shehbaz Sharif also announced that companies adhering to tax regulations would receive formal recognition and encouragement as a token of appreciation for their contribution. He highlighted the government’s focus on facilitating ease of doing business, attracting investment, boosting exports, and making the tax system more transparent and straightforward to build greater confidence within the business community.
The meeting included a briefing on FBR’s performance and the progress of ongoing reforms. It was revealed that production monitoring systems are already installed in the sugar, cement, tobacco, tiles, and fertilizer sectors, with implementation underway in the textile and beverages industries.
Significantly, production monitoring in the sugar industry yielded an additional Rs42 billion in tax revenue over the past year, while the cement sector contributed an extra Rs38 billion. The beverages industry also generated Rs15 billion more in tax revenue during the same period due to these measures.
The session was attended by key figures including 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, along with other senior government officials.
