Important decisions taken on privatisation of Loss Making Institutions in Pakistan
Shares
Caretaker Prime Minister Anwaarul Haq Kakar, during a meeting discussing the privatisation of the loss making Institutions in Pakistan. The concerned authorities and departments were told to accelerate the process in this regard.
PM Kakar also urged the fulfillment of legal obligations to expedite the privatization of state-owned enterprises and called on federal ministries to cooperate with the Privatisation Division
Further matters related to the Federal Board of Revenue (FBR) and Privatisation Division, reaffirmed his government's commitment to expanding the tax base. He instructed all relevant departments to collaborate on tax reforms, emphasizing the need for improved coordination between federal and provincial governments for tax documentation.
.
In the briefing, it was mentioned that the FBR was determined to achieve its tax collection target of Rs9415 billion and had already collected Rs538 billion in July and Rs669 billion in August. Domestic tax collection had increased by 38.7 percent compared to the previous year. Digital tools were being employed to enhance the tax-to-GDP ratio, and efforts were underway to add one million new taxpayers to the tax net, with 182,000 already added this year. Additionally, the Point of Sales system was expanding to more cities and retailers, with plans to include 20,000 new retailers and improve Transit Trade Management System.
Furthermore, customs digitalization was in progress, and the Pakistan Single Window system was being linked with more government institutions. The Privatisation Division aimed to enhance the service delivery of government corporations by leveraging the private sector's capabilities. The meeting was attended by Interim Finance Minister Dr. Shamshad Akhtar, Advisor Ahad Cheema, federal secretaries of finance, aviation, and privatisation, FBR chairman, and relevant senior officers
