IMF praises Pakistan’s historic tax collection, boosting economic progress
FBR breaks 70 Years Record with Historic Tax Collection. In a groundbreaking achievement, the Federal Board of Revenue (FBR) has set a new record for the highest-ever monthly tax collection in Pakistan‘s history. For the first time in seven decades, the FBR surpassed its own milestones, collecting a remarkable PKR 1,325 billion out of a total target of PKR 1,380 billion. This achievement not only highlights the country’s improved tax collection system but also signals a significant step toward fiscal discipline and economic stability.
The record-breaking collection comes as a result of the government’s strengthened measures to combat tax evasion, enhance compliance, and broaden the tax net. The FBR’s efforts to digitalize and modernize its operations have also played a crucial role in facilitating this historic collection.
The achievement has drawn positive reactions both domestically and internationally, with the International Monetary Fund (IMF) expressing satisfaction with Pakistan’s economic progress. The IMF’s acknowledgment further solidifies the importance of these tax collection efforts in meeting the country’s financial targets.
Finance Minister Muhammad Aurangzeb and FBR Chairman Rashid Mahmood Langrial have both praised the efforts of the tax authorities and staff in reaching this milestone. “This achievement is a testament to the government’s commitment to improving Pakistan’s fiscal health,” said Finance Minister Aurangzeb. He further emphasized that these efforts were crucial for meeting the nation’s financial obligations and reducing dependence on external debt.
Chairman Langrial also credited the FBR team for their diligence and hard work, noting that the record collection serves as a beacon of Pakistan’s growing fiscal strength. He assured that the FBR would continue to improve its processes, enhance taxpayer services, and work toward setting even higher standards in the future.
