Miftah Ismail, the Federal Minister of Finance and Revenue, expressed optimism on Tuesday that the Federal Board of Revenue (FBR) would continue to optimize revenue collection in the next two months in order to fulfil the amended goal set for the current fiscal year 2021-2022.
The minister paid a visit to the Federal Board of Revenue (Headquarters) to assess the organization’s performance and the continuous campaign for tax compliance.
During the meeting, Chairman FBR briefed the minister on the overall performance, revenue objectives, and collections made during the first ten months of the current fiscal year (July 2021-April 2022). The minister acknowledged his delight and offered his gratitude to FBR for meeting the goal. He expressed his expectation that FBR will continue to optimise revenue collection in the next two months in order to reach the amended objective set for the current fiscal year, 2021-2022.
He said that the FBR should investigate all tax compliance options and make every effort to realise Pakistan’s genuine income potential. He pledged his entire support to FBR Chairman in the current tax collecting operation in the nation.
The FBR Chairman also described the major projects, such as the Point of Sale (PoS) and the Track and Trace System (TTS). He promised the minister that every effort would be made to strengthen these programmes and maximise income potential in the retail and large-scale industrial sectors.
The minister praised Pakistan Customs for its several digitally innovative initiatives. He also praised FBR’s digitization efforts, which aim to automate corporate operations, improve ease of doing business, and thereby help taxpayers. The minister highlighted that similar digital interventions should be undertaken at seaports to enable seamless and smooth cargo clearance.
The minister stressed that all options must be examined and genuine budget suggestions should be offered to the government in order to enhance revenue collection without burdening the general public.
On his first visit since taking office as finance minister, Chairman FBR Asim Ahmad and other top executives greeted him warmly upon his arrival.