Prime Minister Shehbaz Sharif emphasized the need for Pakistan to increase its revenues urgently. During a visit to the Federal Board of Revenue (FBR) headquarters, he highlighted the dangers of relying on borrowing. He stated that reducing dependence on the International Monetary Fund (IMF) requires substantial economic reforms.
Sharif pointed out that rising public debt presents serious challenges for the nation. He urged citizens to work hard to boost national income. Without significant revenue growth, he warned, Pakistan’s debt would continue to grow, making it harder to escape the IMF’s influence.
The prime minister acknowledged ongoing digitalization efforts at the FBR. However, he noted that challenges remain and must be resolved quickly. Tax system reforms are crucial for achieving economic stability and future growth, he stressed.
Officials informed the prime minister about various reforms in progress, including a new performance management system. This system aims to enhance tax compliance by integrating data from different agencies. Sharif praised a 27% increase in tax collection but called for resolving high-value court cases, which could significantly benefit the treasury. He expressed hope that modernization efforts would strengthen the economy and ease the debt burden.