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Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial addresses an event. — National Defence University website/File
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Federal Board of Revenue (FBR) chairman Rashid Mehmood Langrial said on Wednesday that the country would not witness the shortage of tax in the next financial year, saying that the tax target would be set in a “conservative” manner.
He was made a day after the federal government unveiled a budget of Rs 17.57 trillion ($ 62.24 billion). The budget arranges a significant reduction in the fiscal deficit under the high taxes and the International Monetary Fund (IMF).
The government is targeting 4.2 % GDP growth in the financial year 2026, which is more than 2.7 % this year, which was reduced from the initial 3.6 % as agriculture and large -scale manufacturing has been lowered. Taxes are likely to increase by more than 14 % to expand the tax base through new taxes. The financial deficit is targeted by 3.9 % of GDP, which is less than 5.9 % of this year.
Addressing the Geo News Program “Today, Shahbaz Khanzada’s Seth”, Langrial called for increasing tax revenue through implementation measures.
He said that the country has witnessed the positive results of the implementation measures in the sugar sector, which will be increased in more sectors in the next financial year.
The top officer said that the Revenue Board has seen a change in tax rate or without any difference in sugarcane production, the implementation measures have seen an increase in taxes from the sugar sector by about 393 %.
“It was a test case for us [to make sugar mills comply with tax measures] He added that in which we have succeeded, “Lingal said. The 39 % increase in tax proved that compliance is a difference.
The Chief of the FBR said that some sugar mills stopped production after 100 % surveillance.
He detailed that the FBR used digital sources and intelligence sources to monitor sugar mills, as well as strict supervision of the Revenue Board team.
He added that steps will be taken to implement the poultry and beverage sectors in the next financial year. He added that FBR will monitor the production foolproof.
He said that the FBR created a priority list to improve implementation in various fields. Lingiel claimed, “The way the government is working this year, I am sure the mafia will not succeed.”
He also hoped that in the next financial year, the country would not face a shortage of taxes. The chairman of the FBR acknowledged that the salaried class is more taxed.
One day ago, Finance Minister Mohammad Aurangzeb called for compliance with tax measures through various sectors.
Speaking at the same program a day earlier, Finance Czar said that the government was preferring structural reforms, implementation measures and assistance for low -income groups to ensure equal financial growth.
The Minister has clearly rejected the introduction of any new tax, saying that the country should now rely on the implementation of the tax increase and 13.5 % will have to reach the target of the GDP ratio.
He said that implementation will play a central role in plugging leakage, taxing legalism, and enhancing the net, especially in retail and wholesale sectors. He revealed that the government had already deposited Rs 390 billion through implementation measures, which was initially complained by the International Monetary Fund (IMF).
He added, “A similar revenue project has been made for the next financial year, which has been supported by the government’s performance track record.”
Finchon Aurangzeb presented the federal budget for the fiscal year 2025-26, which has a total of 17.57 trillion rupees, which set a target of 4.2 % increase in GDP and the overall federal spending decreased by 7 %.
He also highlighted that the next fiscal year’s budget strategy was the beginning, especially to promote the competitive economy.
