The chairman of the Federal Board of Revenue (FBR), Dr. Ashfaq Ahmed, indicated on Wednesday that the FBR seeks to collect Rupees 8 trillion of revenue by 2023 which will set Pakistan’s economy in a new direction. While talking to the journalists, Dr. Ashfaq stated that the Prime Minister, Imran Khan, has his vision for the revenue collection and the economic development of the country where the top priority is to achieve the revenue target of 8 trillion rupees.
In the interview, the chairman of FBR said that in the fiscal year 2021-22 “Our revenue target is Rupees 5.830 trillion which is expected to increase till Rupees 6 trillion by June 2022. We have collected Rupees 300 billion more revenue than our target till December 31.” The FBR hopes to achieve its entire revenue target this year which would further play the part in the country’s economy.
On 26th January, while attending the Pakistan Custom’s event of International Custom’s Day as a chief guest, Dr. Ashfaq promised to digitalize every FBR agency. He stated that the FBR has the largest data portal which is in dire need of digitalization that can play a huge part in the country’s economic development and trade. He added that at present the role of FBR was very important in all three trade corridors including Chaman and Torkham, which would be strengthened with China Pakistan Economic Corridor (CPEC).
The chairman was seen praising the Pakistan Customs as during the financial year 2020-21, Pakistan Customs has shown growth of 20% in the collection of the Customs Duty, collecting 45% of the total revenue collected by FBR under the head of all duties and taxes at import stage. During the first six months of the current financial year, Pakistan customs has collected at import stage 51% of the total revenue collected by FBR.
While concluding his speech at Customs House, the FBR chairman hoped that Pakistan Customs would continue its efforts to follow the guidelines of the World Customs Organization to bring advanced technologies to integrate and secure its operations while facilitating all stakeholders.