Disclosure of tax evasion of 80 billion from illegal sale and purchase of cigarettes
On the concern of the IMF, the Prime Minister direct action against the illegal cigarette manufacturing factories.
Tax evasion of 80 billion was reveal due to the illegal sale and purchase of cigarettes in the country. On which Prime Minister Shahbaz Sharif expressed concern on behalf of the IMF and directed action against illegal cigarette factories.
It has been mention in the media reports with reference to the sources that the Ministry of Finance and the FBR briefed the Prime Minister on the purchase and sale of illegal cigarettes and said that more than that.
On which the Prime Minister has instructed FBR to install track and trace system on all cigarette factories soon. And IMF has assured to connect cigarette companies with track and trace system.
Under FBR, Inland Revenue Intelligence Teams will conduct raids on illegal cigarette factories, report of action against. Illegal cigarettes will also be sent to IMF, FBR monthly report of action. Against illegal cigarettes to Prime Minister will present to will.
On the request of the IMF, the government has decided to increase the interest rate. ) has agreed to increase. And Pakistan is expect to increase the policy rate (interest rate) by 2 percent.
In addition, most of the other initial steps of the IMF have been complete, some on the power sector issue. There are matters which are in the final stages and it is hope that progress. Will be made soon and after the matters in this regard are settled. The staff agreement with the IMF will be sign.