Prime Minister Shehbaz Sharif on Saturday approved the formation of a modern and globally standard digital ecosystem in the Federal Board of Revenue (FBR), besides directing the hiring of internationally renowned experts.
During a meeting to review progress on the ongoing reforms in the revenue board, the prime minister observed that the economy was moving in a positive direction due to the recent reforms in the FBR.
Finance Minister Muhammad Aurangzeb, Minister for Economic Affairs Ahad Khan Cheema, Minister of State for Finance Bilal Azhar Kayani, FBR chairman, and the revenue board’s Chief Coordinator Mosharraf Zaidi, economic experts and other senior officials attended the meeting, the PM Office Media Wing said in a press release.
The meeting was briefed on the progress regarding the formation of a modern digital ecosystem aimed at centralising FBR’s data and enabling real-time monitoring of the entire value chain.
PM Shehbaz, while chairing the meeting, emphasised that not only digitisation, but a comprehensive digital ecosystem should be established to strengthen the new system and directed that all the relevant data, from raw material production and import, to manufacturing of goods and the final consumers’ purchase, should be integrated into a single system.
The prime minister said the system should be made so effective that the entire value chain could be monitored digitally in real time.
He further opined that the centralised data collected under this system should be utilised for the economic strategic decision-making.
The premier stressed that the goal of reducing taxes for the common man could only be achieved by increasing the tax base and ending the informal economy.
Prime Minister Muhammad Shehbaz Sharif has decided to continue the incentive scheme for the remittances of overseas Pakistanis to Pakistan.
He directed the Ministry of Finance to immediately release funds for the Workers’ Remittances Incentive Scheme on priority basis.
He said, “Overseas Pakistanis are our strength and a valuable asset of Pakistan.”
“The hard-earned remittances of overseas Pakistanis play an important role in the development of Pakistan, which the entire nation, including me, values,” he added.
In the fiscal year 2025, he said overseas Pakistanis played a key role in achieving the target of current account surplus for the first time in 14 years by sending a record high of $38.3 billion in remittances.
These remittances not only helped pay the rising import bill but also helped increase foreign exchange reserves, he noted.
He said “Overseas workers and businessmen play a crucial role in the country’s development and progress by sending remittances to their homeland.”
“We are removing obstacles in the way of remittances sent by hardworking Pakistanis abroad by making the system better, more efficient and easier,” he added.