ISLAMABAD: Finance Minister Muhammad Aurangzeb Tuesday informed Pakistan Retail Business Council (PRBC) that McKinsey & Company has been engaged to assist the FBR’s end-to-end digitalization, which will broaden the tax net.

A delegation of Pakistan Retail Business Council (PRBC) led by Chairman PRBC Ziad Bashir called on Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb at Finance Division today. Minister of State for Finance & Revenue Ali Pervez Malik also attended the meeting.

The PRBC delegation expressed their appreciation for steps being taken by the Government to improve economic conditions in the country. They also extended their support for FBR’s Tajir Dost Scheme. Additionally, they informed the Finance Minister about the challenges being faced by the retail businesses. They highlighted the need for the inclusion of untaxed undocumented retail sector in the tax net. Furthermore, they gave proposals to encourage documented business in the country.

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The Federal Minister acknowledged their concerns and mentioned that McKinsey & Company has been engaged to assist the FBR’s end-to-end digitalization, which will broaden the tax net. He also apprised the delegation that he has asked Minister of State Ali Pervez Malik to oversee this task on a day to day basis to ensure timely completion of this exercise.

Minister of State appreciated the proposals submitted by PRBC. Finance Minister Muhammad Aurangzeb thanked the PRBC delegation and assured them that the government will give due consideration to the proposals submitted by them for the benefit of both the country and the business community.

Copyright Business Recorder, 2024