PM Shehbaz Promotes Cashless Economy and Tax Reforms
ISLAMABAD: Prime Minister Shehbaz Sharif stated that the government is implementing measures to transition towards a cashless economy while also introducing reforms in the Federal Board of Revenue (FBR).
Speaking to a delegation from the Pakistan Retail Business Council in Islamabad on Friday, Shehbaz Sharif instructed the formation of a dedicated committee to resolve retailers’ concerns. He assured that no additional tax burden would be placed on those retailers who are already registered in the tax system.
The Prime Minister emphasized that priority efforts are underway to bring all non-taxpaying retailers into the formal tax net. He further highlighted the government’s commitment to tightening controls against smuggling disguised as the trade of second-hand goods.FBR Chairman emphasizes need to improve Tax-to-GDP ratio
Encouraging local industries, Shehbaz Sharif urged them to embrace innovation and advanced technology to boost exports and strengthen their competitiveness in global markets.
The delegation lauded the government’s initiatives for economic stabilization. They described the ongoing reforms as promising and expressed confidence that these measures would have a long-term positive impact on the economy.
The delegation also acknowledged that expanding the tax net to include retailers would increase national revenue and appreciated the government’s efforts to address the concerns of already registered taxpayers.
