PM Shehbaz believes Pakistan can outperform India and even bigger economies with hard work

Prime Minister Shehbaz Sharif underscored the pressing necessity to bolster revenue generation in the country, asserting that with diligent effort, Pakistan could surpass the economic performance of India and other major economies. These remarks stem from the widespread issue of tax evasion in Pakistan, resulting in significant annual revenue losses amounting to approximately Rs5.8 trillion, equivalent to 6.9% of the nation’s total annual income.

In contrast, India recently announced a substantial increase in tax collection, amounting to $25.15 billion in April alone, marking a noteworthy 12.4% surge compared to the previous year. PM Shehbaz made these observations during a special event honoring commendable officers within the tax department. He expressed confidence in Pakistan’s potential to enhance revenue collection, setting a lofty target of Rs24 trillion, significantly surpassing the conventional aim of Rs9.4 trillion.

He attributed Pakistan’s revenue losses to factors such as corruption, inefficiency, and negligence among some individuals. To address these challenges, he emphasized the importance of merit-based rewards and promotions, advocating for a system where advancement is based on performance rather than personal connections. He pledged to combat corruption vigorously and implement reforms to enhance the efficiency of the tax department in the future.

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