Prime Minister Muhammad Shehbaz Sharif has directed for the installation of a trace and track system in all cigarette manufacturing units of the country within the next two weeks to combat tax evasion.
In addition, he has ordered the installation of an automatic track and trace system in all major sectors of the country and the development of a comprehensive strategy for revenue generation. The Prime Minister chaired a meeting to review the installation of the track and trace system in the cigarette manufacturing industry and to discuss ways of broadening the overall tax volume.
He also directed law enforcement agencies to provide their cooperation to the Federal Board of Revenue (FBR) to control smuggling and illegal sale of cigarettes.
RAED MORE: FPCCI rejects policy rate hike; terms economy to collapse
During the meeting, the Prime Minister expressed his dissatisfaction with the relevant authorities’ failure to install an auto track and trace system on sugar mills and directed for an inquiry report to be submitted in this regard. The meeting was attended by several senior officials, including the Ministers for Finance, Interior, and Industries and Production, as well as the PM’s advisors and special assistants.
The meeting was informed that the track and trace system had already been installed in the majority of the cigarette manufacturing units, while negotiations for installation in the remaining units in Azad Jammu Kashmir were in the final stages.
The FBR also reported that it had brought 0.7 million new taxpayers under the tax net and was taking further steps to meet its targets for the current year.
The Prime Minister stressed the importance of bringing tax evaders and their agents to book and expediting legal and judicial proceedings over tax collection matters.
He also emphasized the need for internationally reputed entities to be hired for the installation of the latest technology-based track and trace system in all major sectors of the economy to improve the economic documentation process and enhance the country’s revenues. The Prime Minister sought a report within two weeks on positive steps taken in this regard.
READ MORE: Taxation structure on cigarettes still lowest in region: FBR
