PM Shehbaz Sharif Orders to take strict and impartial action against sugar mills involved in tax evasion or underpayment. The decision underscores the government’s commitment to improving revenue collection and ensuring accountability within the sugar industry.
Key Outcomes of the Meeting
During a high-level review meeting at the PM House on enhancing revenue collection, PM Shehbaz Sharif Orders leveraging technology to improve the Federal Board of Revenue’s (FBR) efficiency. Federal Minister for Economic Affairs Ahsan Iqbal, Minister of State for Finance Ali Pervez Malik, and other senior officials attended the session.
The PM received a briefing on how video analytics systems are installed and monitored in the sugar business. He expressed optimism that these technological advancements would streamline tax collection and bring transparency to the sector.
Crackdown on Tax Evasion
PM Shehbaz Sharif Orders strict action against sugar mills guilty of tax evasion and instructed the FBR to expedite efforts for full digitalization. He stressed that these measures could save billions for the national treasury while ensuring fair contributions from all businesses.
Reforms to Stabilize Sugar Prices
The Prime Minister stated that introducing reforms, such as video analytics, would eliminate sugar hoarding and stabilize prices. He emphasized the need for regular monitoring of sugar stock to ensure uninterrupted supply. “Offering sugar to the public at a reasonable price while preserving market equilibrium is our top priority,” he continued.
Expanding Digitalization to Other Industries
The PM also urged quick use of video analytics in the cement and tobacco industries. He reiterated that expanding digital solutions across industries would strengthen tax compliance and reduce financial irregularities.
Action Plan for Tax Defaulters
Shehbaz Sharif directed the FBR to bring all tax defaulters into the tax net and take uncompromising action against non-compliance. He highlighted that these reforms are essential for the nation’s economic stability and growth.
Conclusion
Shehbaz Sharif’s bold initiatives to combat tax evasion signal a transformative shift in Pakistan’s approach to revenue generation. These measures aim to enhance transparency, stabilize prices, and protect public interests while boosting the national economy.