ISLAMABAD: Prime Minister Shehbaz Sharif has called for stringent measures to curb petroleum product smuggling as part of efforts to safeguard Pakistan’s revenue and boost economic recovery. Chairing a review meeting on the country’s economic conditions and Federal Board of Revenue (FBR) digitization initiatives, the premier emphasized the urgency of addressing this persistent issue.
Sharif highlighted the positive impact of recent actions against smuggled fuel, noting that petroleum sales reached a 25-month high of 1.58 million tonnes in November 2024, a 15% year-on-year increase. He attributed this milestone to effective policies and reduced fuel prices, describing it as a significant recovery in the energy market.
The prime minister also urged the swift completion of video analytics systems for the cement sector and praised the progress made in digitizing the FBR. He termed these reforms pivotal to the government’s economic strategy, stating that a fully digitized FBR will enable data-driven revenue collection and efficient taxation.
Key advancements reported include:
Completion of video analytics for the sugar industry.
Development of a mobile app for small business invoicing, set for launch this month.
Full FBR value chain digitization by March 2025.
Establishment of a faceless customs assessment unit in Karachi.
Upgraded infrastructure for Pakistan Revenue Automation Ltd (PRAL).
The premier also lauded the timely export of sugar, which generated $500 million in foreign exchange, while reiterating the need for stricter measures to combat petrol smuggling.
Sharif concluded by expressing optimism over the economic reforms, emphasizing the government’s commitment to sustainable growth through enhanced revenue strategies and fiscal discipline.
Story by Zulfiqar Ahmad
