ISLAMABAD, July 7 (Alliance News): Prime Minister Muhammad Shehbaz Sharif on Monday lauded the Federal Board of Revenue (FBR) and Intelligence Bureau (IB) for their successful joint efforts in enhancing tax collection and curbing hoarding, urging continued inter-agency collaboration to bolster Pakistan’s economic stability.
Speaking after receiving a comprehensive report from the two institutions, the prime minister emphasized that the recent improvement in Pakistan’s economic indicators was made possible through coordinated and sustained teamwork.
He said the prosperity of the people and progress of the country depended on unity among all relevant institutions.
According to the report presented to the Prime Minister by the FBR and IB, joint operations against tax evasion and market manipulation have led to a significant recovery of Rs. 178 billion.
The report highlighted that Rs. 69 billion in additional revenue was secured through enforcement in the telecom sector and scrutiny of corporate mergers, reflecting increased oversight and enforcement in key revenue-generating areas.
The IB, working in close coordination with the FBR, conducted 515 raids across several sectors including sugar, animal feed, beverages, edible oil, tobacco, and cement. These operations alone recovered Rs. 10.5 billion by thwarting sophisticated tax evasion schemes.
In parallel, the IB launched over 13,000 anti-hoarding operations targeting the sugar, fertilizer, and wheat sectors since April 2022. These crackdowns led to the seizure of illegally stockpiled commodities valued at more than Rs. 99 billion.
Prime Minister Shehbaz Sharif appreciated the synergy between civilian intelligence and financial oversight agencies, calling it a model for effective governance. “Such achievements are the result of efficient teamwork and unwavering commitment to national interests,” he remarked. “We must now continue this momentum to ensure a broader tax base and eliminate economic malpractices.”
He reiterated that the fight against tax evasion and hoarding was not only essential for increasing revenue but also for safeguarding ordinary citizens from artificial inflation and market exploitation.
The Prime Minister also underlined that economic stability could not be sustained without enhancing domestic revenue streams, especially through expanding the tax net and ensuring compliance across all economic sectors.
He called upon the FBR to intensify its digitization and automation efforts to make tax processes more transparent and taxpayer-friendly.
With inflationary pressures and external debt repayment obligations mounting, the government has been focusing on internal resource mobilization as a key pillar of its economic recovery strategy. Analysts have noted that the recovery of Rs. 178 billion is a significant achievement in this context.
Officials from the PM Office stated that further institutional reforms are being finalized to empower enforcement agencies and strengthen financial oversight mechanisms to prevent tax fraud and economic sabotage.
The success of these operations also reinforces the government’s policy of holding powerful stakeholders accountable, irrespective of their sector or influence, thereby fostering a culture of rule of law and economic justice.
As the Prime Minister’s Office continues to monitor the implementation of these strategies, sources indicated that more integrated operations involving provincial and federal agencies are expected in the coming months to clamp down on large-scale economic crimes.
The Prime Minister concluded by commending the teams involved in the successful operations and directed the continuation of such initiatives to ensure long-term economic resilience and public welfare.
