Recovery hinges on tax reforms, curbing smuggling: PM Kakar

Caretaker Prime Minister Anwaarul Haq Kakar on Thursday outlined the plan for tax reforms through digitisation and underscored the need to improve the tax collection for economic progress. The development came a day after the Federal Board of Revenue (FBR) assured the PM it would bring one million new taxpayers on the roll and 20,000 retailers to the Point-of-Sale (POS) system — a real-time mechanism to document sales — by the end of June 2024. According to the latest data issued by the FBR on Sept 4, some 16,387 branches of 7,798 retailers across the country were integrated with the system. Talking to a delegation of the Islamabad Chamber of Commerce and Industry (ICCI) in Islamabad on Thursday, the PM said his government would bring economic stability “by winning the confidence of traders, industrialists and investors,” according to an official statement issued by the PM’s Office.