Top taxpayers and exporters will receive blue passports and honorary ambassador status, announces Prime Minister Shehbaz

Prime Minister Shehbaz Sharif has pledged to bolster the country’s economy and foster gradual growth. Speaking at an event in Islamabad where he was presenting awards for outstanding tax performance, Sharif underscored the importance of collective efforts to boost exports and alleviate the national debt burden. He elaborated on the government’s strategies to enhance various sectors such as industries, agriculture, and technology, asserting that these advancements are imperative for economic improvement.

Acknowledging the potential necessity of assistance from the International Monetary Fund (IMF) to maintain economic stability, Sharif affirmed the government’s unwavering commitment to fostering economic expansion, generating employment opportunities, and addressing inflationary pressures. He highlighted collaborative efforts between federal and provincial authorities to support businesses and resolve their challenges, citing substantial refunds already issued to exporters with continued support planned for the future. Additionally, Sharif expressed intentions to reduce electricity costs for industrial sectors to stimulate production.

The Prime Minister outlined plans to facilitate foreign investment through the establishment of a Special Investment Facilitation Council (SIFC) and the continuation of the second phase of the China-Pakistan Economic Corridor (CPEC). He also emphasized reforms in tax collection methodologies, proposing a comprehensive overhaul of the Federal Board of Revenue (FBR) and the integration of technology for tax collection purposes.

In recognition of the contributions made by top taxpayers and exporters, Sharif announced incentives, including special passports, cards, and honorary ambassador status, aimed at incentivizing timely tax payments and fostering a culture of compliance.

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