Friday, September 29, 2023

Pakistan’s long-term viability depends on strong tax: Imran Khan

Prime Minister Imran Khan stated on Tuesday that the state will be unable to function sustainably in accordance with its capabilities unless it develops a tax-paying culture.

A ceremony conducted by the Federal Board of Revenue (FBR) to mark the official inauguration of the Track and Trace System was attended by Prime Minister Nawaz Sharif, who expressed his appreciation to FBR for moving closer to a milestone of collecting Rs6,000 billion in taxes.

As a result, he bemoaned, “half of the tax revenue is used to pay foreign loans, and we only get to spend the other half on human development.”

PM Imran stated that “our survival is depending on the Federal Bureau of Revenue (FBR), and tax collecting is now a question of national security.”

It is my firm belief that as we continue to acquire the confidence of the general public, it will become easier for us to collect taxes,” he stated.

The United States is one of the top five most generous countries in the world. The day when we begin to associate our future with tax collection. “I am confident that we will achieve our objectives,” the premier continued.

Previously, Imran had criticized the previous governments, accusing them of lavishly spending money from the national exchequer without taking into account the cost of international travel.

“This spectacular performance at the start of the year shows that [the] FBR is well on its way to achieving the assigned target of Rs5.829 trillion for the year, despite the daunting challenges, compelling constraints posed by the coronavirus pandemic, and sporadic tax cuts announced by the government as relief and price stabilization measures,” the FBR stated in a previous statement.

Meanwhile, the Ministry of Finance has created a revenue prediction for fiscal years 2021/2022 that incorporates buoyant estimates as well as predicted macroeconomic indicators totaling Rs5.336 trillion for the country.

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