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Revenue Collection to Rise Up to RS 5.8 Trillion in FY22: Tarin

Islamabad: According to Finance Minister Shaukat Tarin, this year’s revenue collection of Rs 4.8 trillion will be the greatest in the nation’s history. The government expects the following fiscal year’s income to be around Rs 5.8 trillion (FY22).

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He explained that the government will increase revenue by Rs 1 trillion using creative ways including connecting the Federal Board of Revenue’s (FBR) system to the Points of Sales (POS) and putting a stop to the harassment of taxpayers.

He said that because of a shortage of funding, the government had chosen to concentrate on 12 key areas in order to move the nation toward “inclusive and sustainable prosperity,” while the EAC was given the task of identifying the obstacles to Pakistan’s long-term economic progress.

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Tarin added that there was a need to concentrate on all aspects of the agricultural supply chain and that a progressive plan was being implemented with several incentives for agricultural changes.

He added that a system to stop the practise of taking enormous margins by acting as a middleman needed to be adopted in order to manage food inflation.

Shaukat Tarin also stated that he would adore to have a charter of the economy and that he would be meeting with Prime Minister Imran Khan to ask for his permission to contact the Pakistan People’s Party (PPP) and Pakistan Muslim League-Nawaz (PML-N).

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