Prime Minister (PM) Shehbaz Sharif said Pakistan has the potential to collect revenues of over Rs 24 trillion more than twice its annual tax target of Rs 9.4 trillion, VOS News reported.
Addressing a ceremony to award shields to hardworking and efficient officers of the Federal Board of Revenue (FBR), the prime minister said that an amount of around three times the annual revenue target is being wasted due to ‘corruption, inefficiency, and negligence’.
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“This huge amount could be utilised to pay debts and construct hospitals, schools, universities, and roads in the country,” he added.
The prime minister said that Pakistan is facing multiple challenges including a low tax-to-GDP ratio and external and internal debts that are increasing every passing day.
As regards the amount worth Rs 2.7 trillion held up across various appellate forums, including commissioners’ appeals, Appellant Tribunal Inland Revenue (ATIR) and various courts, he said now the law had been made to recover such amounts.
PM Shehbaz said under the new law, the ATIR members, equivalent to the high court judges would be appointed through an open competition and their tests and interviews would be conducted through reputable institutions such as LUMS, IBA etc.
