Piqued by huge tax evasion, PM orders crackdown

LAHORE: Prime Minister Muhammad Shehbaz Sharif on Saturday asked the authorities concerned to bring tax evaders into the tax net and take strict action in case of non-compliance.

He was holding a review meeting on strategies to enhance revenue collection.

During the meeting, officials briefed the Prime Minister on installing and monitoring video analytics in the sugar industry.

Crackdown launched on sales tax evaders

Highlighting the importance of technology, the Prime Minister said, “Improving the Federal Board of Revenue’s (FBR) performance through technology is the government’s top priority.”

He emphasized that using video analytics in the sugar industry would significantly improve revenue collection, eliminate hoarding and help stabilize prices. “Our utmost effort is to ensure the availability of sugar at affordable prices for the public,” he said, directing regular monitoring of sugar stocks to maintain an uninterrupted supply chain.

The premier also ordered stringent and indiscriminate action against tax evasion and under-reporting by sugar mills. He underscored that ongoing measures for FBR’s digitization would bring billions of rupees in benefits to the national treasury. Additionally, the prime minister instructed the swift completion of FBR’s value chain digitization and called for the rapid implementation of video analytics in the cement and tobacco industries.

The meeting was attended by the Federal Minister for Economic Affairs Ahad Khan Cheema, Federal Minister for Information and Broadcasting Ataullah Tarar, Minister of State for Finance Ali Pervaiz Malik and senior government officials.

Moreover, the Minister for Information and Broadcasting Ataullah Tarar while addressing a public gathering in Lahore said that Pakistan’s economy is progressing and investors are taking benefits from successful government policies.

“Pakistan’s exports and foreign exchange reserves are on the rise, besides, record investment is being recorded,” Tarar said, adding, “Pakistan Stock Exchange broke the record of one hundred thousand points.”

He said the price hike is at four percent while the interest rate is lowering as well.

He said foreign investors and countries world over are reposing their trust in Government policies and measures. He added that all economic difficulties are being solved and the government is fulfilling all promises made with the public.

Regarding May 9, violence, the minister said that 25 attackers have been sentenced. Those who acted against the country’s solemnity will be brought to book, including their master mind, he said.

Copyright Business Recorder, 2024