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Smuggling & illegal trade have adversely affected country’s economy: PM Shehbaz

ISLAMABAD, March 29 (SABAH): Prime Minister Mian Muhammad Shehbaz Sharif has called for joint efforts to check smuggling, power theft, revenue evasion and other leakages to put the country on path of economic stability.

Chairing a meeting to curb smuggling in Islamabad on Friday, PM Shehbaz Sharif said federal and provincial governments as well as all the institutions, including the armed forces, should join hands in preventing massive leakages in revenue, electricity and gas sectors. He said smuggling and illegal trade have adversely affected country’s economy.

The Prime Minister mentioned that 58 billion rupees were recovered in the power sector, while smuggling was also reduced during the interim government. He said it shows that any sort of challenges can be overcome if there is a will.

PM Shehbaz Sharif said besides transmission losses, we are facing electricity theft of five hundred billion rupees annually. He said pilferage of gas is also bleeding the economy.

Talking about the loopholes in the taxation system, the Prime Minister said revenue of billions of rupees remains away from the tax net. He said tax cases to the tune of 2,700 billion rupees are pending before various tribunals. He said Pakistan’s reliance on foreign loans can be reduced if we retrieve even half of this amount, which will also be sufficient to construct more cancer hospitals, improve education sector and infrastructure in the country.

PM Shehbaz Sharif said the government has decided to revamp the system and to check all kinds of leakages and no political or bureaucratic influence will be accepted in this regard. He said the Federal Board of Revenue will be hundred percent digitalized. He added that heads of tribunals would be appointed on merit to take the country towards a positive direction.

Regarding the law and order situation in the country, the Prime Minister said he has directed the Interior Minister to be fully vigilant and establish a good coordination with the provinces to protect lives and properties of the people.

The Prime Minister thanked the provincial chief ministers, the chief of army staff, chief secretaries and inspectors general of police for their coordinated efforts to meet the diverse kind of challenges and to put the country on path of economic stability.