Islamabad, Today marks the global observance of the World Day of Social Justice, with this year’s theme, “Bridging Gaps, Building Alliances,” underscoring the critical need for cooperation and partnership in tackling the pressing issues facing the world. The theme reflects an international call to foster collaboration across borders and sectors to address social justice challenges comprehensively.
According to Ministry of Information and Broadcasting, the International Labour Organization is commemorating the occasion with a series of events in major cities worldwide, aiming to bring attention to the importance of social justice in achieving sustainable development and equitable growth. These events are part of a broader effort to highlight the role of social justice in bridging gaps between communities and building alliances for a more inclusive society.
On a related note, the observance has brought to light ongoing concerns in India’s Illegally Occupied Jammu and Kashmir (IIOJK) and among minorities in the country, particularly Muslims, who are reported to face significant challenges in accessing social justice and basic rights. A spokesman for the All Parties Hurriyat Conference in Srinagar stated that Kashmiris have been engaged in a seven-decade struggle for their rights, yet remain deprived of their UN-mandated rights under international law. Additionally, Muslim, Christian, Dalit, and Sikh communities in India have expressed profound fear and insecurity due to systemic oppression and government discriminatory policies.
The World Day of Social Justice serves as a reminder of the ongoing struggles many face in securing their rights and the importance of global solidarity in overcoming these challenges.
Islamabad, The Federal Board of Revenue (FBR) has reported a substantial increase in tax revenue collection, totaling Rs.5,150 billion from July 2023 to mid-February 2024. This marks a nearly 30% growth compared to the Rs.3,973 billion collected over the same period in the previous fiscal year.
According to Press Information Department, the FBR’s detailed month-wise revenue collection from July 2023 to January 2024 showcases significant growth across various tax categories, with overall domestic taxes rising by about 40% and import duty and related taxes growing by 16%. This revenue surge is attributed to the revival of GDP growth and more stringent scrutiny of FBR collections.
Despite a general uptick in revenue, the growth in import taxes has been tempered by adjustments in import tariffs and recent restrictions on import licenses imposed by the State Bank of Pakistan (SBP) to manage the balance of payments amid foreign exchange constraints. Nevertheless, improvements in the valuation of imports and a vigorous anti-smuggling drive, which saw a 69% increase compared to the previous fiscal year, have contributed to the revenue from imports.
The Press Information Department also highlighted the potential for further enhancing anti-smuggling efforts, particularly by increasing the customs force in Baluchistan, which currently comprises only 378 anti-smuggling staff compared to the 20,000 personnel needed to effectively enforce laws in the province.
Domestic tax collection, which now represents over 64% of the total revenue collected during the current financial year, indicates a significant shift towards mobilizing domestic resources. This transition is further evidenced by the reduced share of import taxes, which has declined to 36% from more than 50% three years ago.
The FBR’s report also detailed the tax-wise collection, noting major contributions from sectors such as banking, petroleum, textiles, power, food, and services in income tax; while sales tax revenue saw significant contributions from petroleum, power, food, automobiles, iron and steel, and chemicals. Federal excise duty experienced a notable increase due to contributions from tobacco, cement, beverages, airlines, fertilizers, and automobiles, and customs duty growth was driven by petroleum, automobiles, iron and steel, electronics, and food.
This comprehensive revenue growth reflects the FBR’s successful strategies in tax collection and anti-smuggling efforts, signaling a robust economic recovery and effective fiscal management in Pakistan.