Reforms in the FBR & its complete digitization are inevitable for our economic survival: PM Shehbaz
ISLAMABAD, July 11 (SABAH): Prime Minister Mian Muhammad Shehbaz Sharif has directed to remove all unnecessary obstacles in customs operations.
PM Shehbaz Sharif issued these directives while chairing a meeting in Islamabad on Thursday to review matters related Pakistan Customs and Federal Board of Revenue.
The Prime Minister said Customs Department is the backbone of Pakistan’s economy and stressed to utilize modern technology, artificial intelligence and latest tools for full enforcement of customs duties.
He further instructed establishment of Project Management Unit immediately for ongoing project regarding reforms in the customs system.
PM Shehbaz Sharif said all issues related to mis-invoicing should also be resolved, while under-invoicing should be abolished for protection of Pakistan’s industries and products. He directed the concerned authorities to apprise about the details of revenue collection through enforcement.
The Prime Minister said a regulatory framework for shipping sector operations should be put in place, while a third-party audit of Customs’ web-based One Customs (WeBOC) system should also be conducted.
About Federal Board of Revenue, the Prime Minister said reforms in the Federal Board of Revenue and its complete digitization are inevitable for our economic survival. He said all ongoing reforms and digitization projects in the FBR should be brought under one umbrella.
PM Shehbaz Sharif directed that a third-party audit of ongoing reform projects in FBR and other institutions should be ensured at all levels.
The meeting was informed that Pakistan Customs has been completely shifted on a sophisticated automation system.
It was further informed that services of experts of internationally repute have been hired for reforms in customs system and these reforms will result in a new system that will be based on the latest artificial intelligence.
The meeting was apprised that 72.4 percent of imports and exports were cleared through Green Channel during the year 2023-24. Pakistan Customs earned an additional revenue of 240 billion rupees in the previous financial year through valuation controls, which is 80 percent more than the previous year.