ISLAMABAD Prime Minister Shehbaz Sharif emphasized the necessity of increasing income collection on Saturday, saying that with hard effort, Pakistan would overtake India or even a larger economy.
His comments coincided with The News’ estimation that the cash-strapped nation’s tax evasion (revenue gap) is approximately Rs5.8 trillion on an annual basis for fiscal year 2022–2023, or 6.9% of GDP.
However, New Delhi announced this week that India had collected a record $25.15 billion in gross goods and services tax (GST) in April, a 12.4% increase over the same period last year, according to Reuters.
PM Shehbaz spoke at a ceremony to present shields to the truthful, diligent, and productive Federal Board of Revenue (FBR) officers.
Three times the annual revenue objective, he claimed, was “going down the drain” as a result of incompetence, corruption, and inefficiency.
According to the prime minister, countries that followed the theory of reward and punishment advanced.
The PM stated that Pakistan was dealing with a number of issues and that revenue collecting was one of the biggest ones. Our neighbors are far ahead of us in this regard.
The nation’s chief executive lashed out at the unscrupulous practices, saying, “Recoveries that should add to the national exchequer are prone to corruption and fraud.”
