PM Inaugurates FBR’s Track & Trace System for Sugar Sector
Islamabad: The Federal Board of Revenue’s (FBR) Track & Trace System for the sugar industry was unveiled by Prime Minister Imran Khan.
In his remarks to the crowd, the prime minister described the implementation of the track & trace system (TTS) as a turning point in the growth of Pakistan’s economy and expressed the hope that it would bring about the country’s long-needed economic prosperity.
He lamented the fact that corrupt elements opposed government efforts to strengthen regulatory oversight of the economy, despite the fact that they were aware that the government couldn’t fund human development, infrastructure development, health care, and the education sector without good economic practices and increased revenue collection.
He also told the prime minister that by integrating technology into the tax system, FBR will be able to increase the tax base and that plans were already in motion to work with NADRA to identify potential tax return filers using artificial intelligence (AI) and mathematical modeling.
He told the crowd that FBR had gathered accurate data on 15 million people earning taxable incomes but not filing forms. These potential filers will soon be mobilized to do their civic duty by enrolling in the tax system.
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