Daily Times

Tax revenue has increased by 40 percent during the current financial year 2021-22 as compared to the last financial year, while income tax collection has also increased. Minister of State for Information and Broadcasting Farrukh Habib said this while talking to the media persons on Sunday. He said the government is going to introduce reforms in the Federal Board of Revenue (FBR), as the government wants to make the revenue collection body a business friendly organisation. He alleged that in the past, refunds used to be stopped and shown as the tax collection. The FBR released Rs250 billion refunds the following year, he added. The state minister said Pakistan’s exports are growing rapidly. “The textile sector did not disappoint us,” he said. Farrukh said that no attention was paid to the agriculture sector in the past. Sugar mills were established in the fields where cotton was sowed, he maintained. During the current year, wheat, rice and sugarcane crops witnessed record growth, he said. Talking about the government’s performance during the coronavirus situation, the minister said the State Bank of Pakistan (SBP) provided facilities to customers during Coronavirus. He said the federal government did not shut down industries during the epidemic, whereas industrialists were arrested in Karachi for running their businesses.