Taxes vital for Pakistan’s economic stability says PM Imran Khan

Our biggest issue is that we have to take loans to run the country. Countries cannot run without taxes. We have our stability at stake said PM Imran Khan while inaugurating FBR’s new track and trace system for sugar sector

On Tuesday 22nd November, Prime Minister Imran Khan inaugurated FBR’s (Federal Board of Revenue’s) new track and trace system in the sugar industry. This system brought forward by FBR will monitor the production and sale of sugar in Pakistan. PM Imran Khan while talking about this system said that he hopes it will help reducing tax-pilferage in the sugar industry.

The PM while addressing the ceremony stressed on the importance of taxes in Pakistan. He said that the absence of taxes in Pakistan have put the country’s sustainability at stake. “Our biggest issue is that we have to take loans to run the country. Countries cannot run without taxes. We have our stability at stake” added the PM.

Imran Khan said that with low tax coming in, the government faces a lot of issues. The government “does not have enough money to run the country, which is why we have to take loans”. He compared the government’s low tax situation with a low income household that always run out of money and fails to invest.

PM Imran Khan traced this ‘tax avoiding’ culture to the colonial era. He said that people in the colonial era thought of tax to be something that puts their hard earned money into foreign pockets. With no basic facilities people started considering taxes to be a bad thing.

PM Imran Khan in his speech said that we have carried along this negative mindset about taxes. Adding more to this negative image of taxes are leaders that led an elite life with tax money. To end this negative image of taxes would be difficult for the government but the PM thinks that introduction of technology will have a positive impact.

Video of PM Imran Khan addressing the inauguration ceremony of the FBR Track and Trace system

Details of FBR’s Track and Trace System

The FBR, track and trace system is developed by FBR and other technological institutions. This track and trace system was first introduced in the tobacco sector and is now being introduced in sugar. The government with time is looking forward to introduce this system in other major sectors such as beverages and petroleum.

This system would monitor a product from its production up until its consumption. FBR would do this by individually stamping each unit of production, these stamps would serve as a verification of tax payment. Details of the stamped products would be saved digitally and products with no stamps would not be allowed for sale. This system will likely increase tax revenue for the government.

Prime Minister Imran Khan while talking about this system congratulated FBR and other tech institutions for creating it. He further stated that he has high hopes from the FBR Track and Trace system.

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