Atif Ikram Sheikh, President FPCCI, has emphasized that, while FPCCI supports the efforts to increase tax-to-GDP ratio, it has to be achieved through broadening of tax base and simplification of the taxation system – rather than further squeezing the already taxed. The only pragmatic approach to achieve tax-to-GDP ratio of 15 percent in the next 5 years is to add 1.5 to 2 million new taxpayers in the tax-net, he added. Atif Ikram Sheikh maintained that the tax and FBR reforms should not be attempted in a consultation-less manner as these kinds of efforts have been grossly unsuccessful multiple times in the past; and, the successive governments resorted to the regressive and anti-business measures of further increasing the taxes on existing filers. Atif Ikram Sheikh stressed a three-pronged strategy to broaden the tax base: (i) end-to-end digitalization of the taxation system to bring transparency & fairness (ii) FBR reforms in consultation with the business community in light of the ground realities (iii) an end to maladministration & harassment of trade & industry at the hands of taxation machinery. FPCCI Chief stated that the business, industry and trade community understands the need for the country to enter into a new, expanded and longer-term IMF program; which will entail, as per past practice, imposition of more taxes – however, FPCCI wants to make it clear that last few years have been unprecedentedly difficult for trade and industry due to COVID, floods, cost of doing business, exchange rate volatility; and, incremental rounds of increase in electricity, gas and petroleum prices.