Ahsan Iqbal Gives FBR Rs. 57 Billion

The federal government has allocated Rs. 57.1 billion for the Transforming and Digitalizing Revenue Administration (TADRA) Project, aimed at modernizing the Federal Board of Revenue (FBR) and expanding the taxpayer base. The Central Development Working Party (CDWP) presented the proposal to the Executive Committee of the National Economic Council (ECNEC) for further examination.

The project is scheduled to be funded through an Asian Development Bank technical assistance soft-term loan. Planning Minister Ahsan Iqbal emphasized the need for the project to achieve specific, quantifiable results, including increased revenue, higher tax-to-GDP ratio, and a larger taxpayer pool. FBR assured the committee that the investment will assist Pakistan in reaching a tax-to-GDP ratio of 13.5 percent by 2029 and encourage more individuals to join the formal tax system.

CDWP recommended the TADRA Project to ECNEC with the prerequisite that the Pakistan Institute of Development Economics (PIDE) conducts a comprehensive examination of its business model. Additionally, the CDWP endorsed a Rs. 5.01 billion project to broaden commercial olive farming in Pakistan, particularly in Balochistan and newly merged districts, while also considering the potential of the Potohar region.

Lastly, a Rs. 5.76 billion project to renovate facilities at the Pakistan Sports Complex in Islamabad was approved, encompassing the rehabilitation of existing structures, electrical systems, HVAC, plumbing, firefighting infrastructure, and installation of new security and surveillance systems.