Islamabad, April 26, 2024 – Prime Minister Shehbaz Sharif has denounced the track and trace system implemented for monitoring goods in several key industries as a complete fraud.
Speaking on Friday, the Prime Minister voiced strong concerns over the system which was intended to oversee sectors like tobacco, cement, sugar, and fertilizer but has failed to bring about any significant improvements.
During a Cabinet meeting at the PM House, PM Shehbaz described the system, established through a 2019 agreement, as a “cruel joke on the nation,” highlighting the absence of a penalty clause in the agreement which compromises its effectiveness. The Prime Minister announced the formation of an inquiry committee to investigate the shortcomings of the track and trace system. The committee is expected to deliver its findings within 72 hours.
In his address, PM Shehbaz also touched on the broader economic conditions, acknowledging the positive macroeconomic indicators under the current and interim governments. According to a recent report, sectors including IT exports, remittances, and the capital market have shown improvement, attributed to the government’s prudent policies. Nevertheless, the Prime Minister underscored the necessity for significant reforms, referring to the planned measures as a ‘major surgical operation’ aimed at correcting deep-seated flaws in the economy.
Further outlining his government’s initiatives, PM Shehbaz provided details on the completion of a four-phase review of the power sector. Key decisions have been made to curb power theft and line losses, alongside initiatives to lower electricity prices. Additionally, the government has resolved to divest the Distribution Companies (DISCOs) to streamline operations and enhance efficiency.
Addressing issues within the Federal Board of Revenue (FBR), the Prime Minister criticized the outdated systems currently in use, which hinder the country’s tax collection capabilities. He suggested that with necessary reforms, the FBR could significantly increase its revenue generation. “We have the potential to collect hundreds of billions more in revenue, which necessitates tough, decisive action and thorough oversight during the implementation phase,” he stated.
Regarding the privatization of State-Owned Entities (SOEs), PM Shehbaz reassured that the process would proceed promptly and transparently, reflecting the government’s commitment to improving efficiency and accountability in the public sector.
The Prime Minister’s sharp critique of the track and trace system and his broader economic reform agenda indicate a strong resolve to address systemic issues and enhance governmental transparency and economic stability. The outcomes of the upcoming inquiry and subsequent reforms will be crucial in determining the effectiveness of these measures in achieving the intended improvements.
