Islamabad, Prime Minister Shehbaz Sharif has outlined a comprehensive plan aimed at achieving macroeconomic stability and guiding Pakistan towards sustained growth. During his address at the Tax Excellence Awards ceremony in Islamabad, he underscored the importance of export-led growth and government support for productive sectors to move away from dependency on loans.
According to Ministry of Information and Broadcasting, the Prime Minister detailed the government’s strategic approach, which includes entering a new agreement with the IMF to stabilize the economy. Simultaneously, efforts will be focused on spurring growth, increasing employment, and tackling inflation.
PM Sharif highlighted initiatives to empower the private sector, including resolving their issues in collaboration with provincial governments, ensuring timely tax refunds, and offering competitive electricity rates for industries to boost productivity. He pointed out the formation of the Special Investment Facilitation Council (SIFC) and the commitment to advancing the second phase of the China-Pakistan Economic Corridor (CPEC).
In terms of tax reforms, PM Sharif announced a complete restructuring of the Federal Board of Revenue (FBR), including plans for its full digitalization by hiring consultants next month, aiming to increase the tax-to-GDP ratio by expanding the tax base.
Acknowledging the crucial role of taxpayers and exporters in the nation’s economy, he hailed them as heroes and announced several incentives to recognize their contribution. Recipients of the awards will be issued blue passports, and the top awardee in each category will be honored as an honorary ambassador. An honor card for top taxpayers was also announced as a gesture of appreciation.
Finance Minister Muhammad Aurangzeb, who spoke at the event, expressed confidence that digitalizing the FBR will enhance transparency and revenue, while rebuilding public trust in the tax system. Chairman FBR Amjad Zubair Tiwana also noted the recent agreement signed for the digitization and automation of tax administration.
The event also featured commendations from leaders of Pakistan’s business community, who praised the government’s efforts to recognize leading taxpayers and exporters, signaling a strong partnership between the government and the private sector in the economic uplift of the country.