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PM Shehbaz would stop at nothing to fight tax evasion.

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During a high-level discussion at the Prime Minister’s House, the premier made statements about revenue improvement tactics, economic digitization, and tax reforms.

The Federal Board of Revenue (FBR) is crucial to the country’s economy, Prime Minister Sharif stressed during his speech to the assembly. He promised to supply the FBR with all the tools required to support their efforts to digitize and grow their human resource base.

Ensuring that the rich pay their fair share of taxes requires a broader tax net, as the prime minister stressed. It was pointed out by him that the new budget places a disproportionate amount of tax burden on the wealthiest members of society while placing little taxation on the middle and lower classes.

The prime minister said, “The government’s top priority continues to be reducing the tax ratio while expanding the tax base.” Plans to fully digitize the tax system were presented, with the goal of improving worker productivity and expediting tax collecting procedures.

Along with calling for quick action, Sharif also suggested using digital tools to increase tax revenues and document the economy. He gave the order for officials to move quickly to bring more people under the tax roof.

The premier was informed about the latest developments in revenue enhancement and the digitization of the FBR over the last four weeks by global businesses McKinsey and Karandaz during the meeting. Plans were also presented for short- and medium-term tax revenue growth.

Reiterated was the possibility of generating billions of rupees in additional tax income if current measures were fully implemented. Revenue growth and accurate documentation of economic activity are anticipated outcomes of the economic value chain’s digitization and automation.

Premier Sharif also directed federal secretaries and department heads to interact directly with the Task Management System, which is cutting edge software used to track the implementation of directions from the prime minister to federal ministries.

At a meeting tasked with evaluating the Task Management System’s deployment, the Prime Minister declared that daily system usage evaluations will guarantee that all projects are completed on time. He underlined the need for ongoing observation to ensure advancement.

There was information presented to the meeting on the development of a mobile application for the task management system.

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Moody’s says the IMF programme will increase Pakistan’s foreign financing.

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Moody’s, a reputable international rating agency, has stated that Pakistan’s chances of acquiring funding will increase as a result of the recent agreement with the International Monetary Fund (IMF), which offers dependable sources for that purpose from both friendly countries and international financial institutions.

According to a recent Moody’s analysis on Pakistan’s economy, social unrest and tensions could result from Pakistan’s ongoing inflation. The country’s economic reforms may be hampered by increased taxes and potential changes to the energy tariff, it continued.

Moody’s, on the other hand, agrees that the coalition government headed by Shehbaz Sharif of the PML-N is in danger of failing to secure an election mandate, which may potentially undermine the successful and long-lasting execution of economic reforms.

The government’s capacity to proceed with economic changes may be hampered by societal unrest and poor governance, according to Moody’s.

In order to appease the IMF by fulfilling a prerequisite for authorising a rescue package, the government raised the basic tariff on electricity, which coincided with the most recent increase in fuel prices announced on Monday. This report was released by Moody’s.

Food costs have increased in the nation, where the vast majority is experiencing an unprecedented crisis due to the high cost of living, following the government’s earlier presentation of a budget that included a large increase in income tax for the salaried classes and the implementation of GST on commodities like milk.

The most recent comments were made following Islamabad’s achievement of a staff-level agreement for a $7 billion contract that spans 37 months and is contingent upon final approval by the IMF Executive Board.

It states that Pakistan will need foreign financing totaling about $21 billion in 2024–2025 and $23 billion in 2025–2026, meaning that the country’s present $9.4 billion in reserves won’t be sufficient to cover its needs.

Therefore, according to Moody’s, Pakistan is in an alarming position with regard to its external debt, and the next three to five years will be extremely difficult for the formulation and implementation of policies.

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Accepting provisional respite: Sanam Javed and family relocated to KP House

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Sanam Javed, the leader of the Pakistan Tehreek-e-Insaf (PTI), and her family have moved into KP Home, an Islamabad guest home.

As a result of the Islamabad High Court’s order to postpone her arrest until Thursday, Sanam Javeed is currently free.

Records of cases filed against her have also been sought by the court.

As instructed by Chief Minister Ali Amin Gandapur of KPK, the PTI leader and her family were received at the KP House. The CM communicated with Ms. Javeed’s father and husband.

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Adiala Jail is visited by a NAB team to question Khan and Bushra Bibi.

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As per a recent Toshakhana reference, a team from the National Accountability Bureau (NAB) has reached Adiala Jail with the intention of probing PTI founder Imran Khan and his spouse PTI Bibi.

The NAB team questioning Khan and Bushra Bibi is led by deputy director Mohsin Haroon, according to jail sources.

Regarding the latest corruption reference, the pair is behind bars. Today is the third day that the NAB team has been looking into them.

They answered questions from the NAB team for more than three hours on Monday.

After the fresh reference, Khan and Bushra Bibi were placed under physical remand for eight days by Judge Muhammad Ali Warraich of the Accountability Court.

See Also: Imran Khan and Bushra Bibi are detained in NAB prison for eight days in connection with the Toshakhana case

The release of Khan and Bushra Bibi in the Iddat case was earlier ordered by District and Sessions Judge Afzal Majoka, who also postponed their sentences.

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