PM Shehbaz Sharif said the record tax collection achieved in FY26 was driven by reforms, digitisation, and strong teamwork over the past two and a half years to modernise Pakistan’s tax system. The remarks were made while addressing senior tax officers at the Prime Minister’s Secretariat during a ceremony marking the successful achievement of the downward-revised revenue collection target for the fiscal year.

The All Pakistan Sarafa Gems and Jewellers Association held a productive meeting with senior FBR officials, particularly Bilal Azhar Kayani, to discuss tax-related issues, industry concerns, and stronger cooperation between the tax authority and traders. Association President Qasim Shikarpuri announced that two representatives would be nominated in each of Pakistan’s 17 Regional Tax Offices (RTOs) to improve coordination with the FBR. It was assured by the FBR that tax-compliant traders would not be harassed and would receive full support. Traders were urged to revise incorrect tax returns, update nil returns, and ensure timely advance tax payments. Qasim Shikarpuri also emphasized transparency, advising members to avoid bribery and resolve all matters through the Association’s designated representatives in accordance with the law.

The Federal Board of Revenue (FBR) has projected revenue collection of Rs14.5 trillion for FY2026-27 before the impact of any new taxes or budgetary measures. According to the FBR’s Evidence-Based Revenue Forecasting report, the estimate reflects expected revenue under the existing tax structure. The final collection target is expected to be influenced by new taxation measures introduced in the federal budget.