Prime Minister Shehbaz Sharif has announced an all-out war against tax evasion, terming it "completely unacceptable," and promising to do everything possible to end it.
He said this while addressing a high-profile gathering with presidents of Chambers of Commerce from Pakistan.
Accompanied by key cabinet members—including Finance Minister Muhammad Aurangzeb, Planning Minister Ahsan Iqbal, Industries Minister Rana Tanveer Hussain, Petroleum Minister Ali Pervaiz Malik, and other top officials—the Prime Minister laid out his vision for Pakistan’s economic resurgence through stronger public-private partnerships.
“The victory in the battle of truth has paved the way for an even bigger triumph in the economic arena,” PM Shehbaz stated. “With the joint efforts of the government and private sector, Pakistan is set to rise as a global economic force.”
Highlighting the importance of empowering local businesses, the Prime Minister emphasized that creating a favorable environment for profitable ventures is a top priority. He pointed out that the government is encouraging small and medium enterprises (SMEs) aggressively by implementing business-friendly policies, reducing the cost of operations, and simplifying the availability of business loans.
There are also attempts to decrease electricity tariffs and facilitate borrowing for businessmen. PM Shehbaz reiterated that tax evasion is a serious barrier to progress and must be eliminated. He stressed the need to integrate modern technology into industries and recognized the vital role women entrepreneurs play in boosting the national economy.
“The government is committed to supporting female business leaders and ensuring their full participation in economic activities,” he added.
The business community commended the government and Pakistan Army on their recent strategic victory and welcomed the steady progress in economic indicators, especially the performance of the Pakistan Stock Exchange during the last two years. They reiterated their determination to work hand in hand with the government for national development and public welfare.
The delegation also welcomed the Federal Board of Revenue's (FBR) reforms and provided recommendations to make them even more conducive to business. Their budget proposals for the next fiscal year were also tabled during the meeting, and the Prime Minister directed the Finance Minister to take them into consideration.
Meeting with British economist
In another meeting, PM Shehbaz had a meeting with British economist Professor Dr. Stefan Dercon to review strategic economic reforms. The Prime Minister emphasized policy coordination, observing that the fiscal, taxation, and production policies should go hand in hand to ensure sustainable growth.
“In the past, Pakistani goods were in global demand, and we were known as an export-driven country. We aim to reclaim that position through deep-rooted economic reforms,” said PM Shehbaz.
Dr. Dercon praised Pakistan’s economic direction and commended the government’s tariff rationalization strategy, citing growing foreign investor confidence in Pakistan’s market.
Finance Minister Muhammad Aurangzeb, Planning Minister Ahsan Iqbal, Economic Affairs Minister Ahad Cheema, Power Minister Awais Leghari, Petroleum Minister Ali Pervaiz Malik, and other senior officials were present at the meeting.
