Islamabad Engages Retail Sector to Expand Tax Net and Encourage Documentation

Islamabad, The Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with a delegation from the Pakistan Retail Business Council (PRBC), discussing strategies to enhance economic conditions and integrate the undocumented retail sector into the tax framework.

According to Ministry of Finance, the PRBC delegation acknowledged the government’s initiatives, especially the Tajir Dost Scheme by the Federal Board of Revenue (FBR), aimed at supporting small traders. They discussed challenges faced by retail businesses and proposed measures for broadening documentation across the sector.

Minister Aurangzeb highlighted the engagement of McKinsey and Company to assist with FBR’s digital transformation, aiming to widen the tax net effectively. He also noted that Minister of State for Finance and Revenue, Mr. Ali Pervez Malik, is closely monitoring this initiative to ensure its success. Both ministers appreciated the input from the PRBC, affirming that the government will carefully consider their suggestions to benefit the national economy and the retail community.