Islamabad: Prime Minister Muhammad Shehbaz Sharif has commended the Federal Board of Revenue (FBR) and the Intelligence Bureau (IB) for their joint efforts in significantly enhancing Pakistan’s tax revenue through targeted operations against tax evasion and hoarding. The Prime Minister stressed that economic stability in the country has been made possible by coordinated teamwork and emphasized the need for continued collaboration among all national institutions to ensure sustainable growth and public prosperity.
In a detailed report presented to the Prime Minister, it was revealed that the combined efforts of FBR and IB have resulted in the recovery of Rs178 billion. A notable increase of Rs69 billion in tax revenue was achieved through initiatives related to corporate mergers and the settlement of outstanding dues in the telecommunications sector.
According to the report, the Intelligence Bureau conducted 515 raids across various sectors including sugar, animal feed, beverages, edible oil, tobacco, and cement. These operations thwarted numerous tax evasion attempts, leading to the collection of an additional Rs10.5 billion in taxes.
Furthermore, the Intelligence Bureau undertook over 13,000 operations in the sugar, fertilizer, and wheat sectors to curb hoarding and prevent artificial price hikes. Since April 2022, these actions have led to the seizure of illegally hoarded goods worth over Rs99 billion.
The Prime Minister reaffirmed that collective efforts will remain vital not only for strengthening the national economy but also for ensuring long-term prosperity for the people of Pakistan.
