Prime Minister Muhammad Shehbaz Sharif on Wednesday applauded the Ministry of Finance and the Federal Board of Revenue (FBR) for achieving a historic 42% increase in federal tax revenues during the fiscal year 2024-25 — the highest surge in the past decade.
The prime minister chaired a high-level weekly review meeting on the digitization and reform agenda of the Federal Board of Revenue (FBR), whereas during the briefing, it was revealed that reforms and enforcement of new tax laws enabled the government to collect an additional Rs 865 billion in revenues compared to the previous year, an eightfold increase. The federal revenue-to-GDP ratio also improved significantly, reaching 11.3 per cent, a 1.5 per cent rise over last year.
