Pakistan, May 15 -- "A comprehensive strategy has been formulated to shift the gears and move to higher economic growth. I do not believe in an increase in taxes to increase revenue collection but those outside the tax net would be tapped. The chances for any harassment by FBR officials shall be eliminated for which change in audit procedures. 17 percent General Sales Tax rate is very high and a mechanism has been prepared for its reduction and the government was also working on a sales tax system for small businesses.."- Finance Minister, Shaukat Fayaz Ahmed Tarin, in his first testimony before the Standing Committee of the National Assembly on May 3, 2021.

"If the Federal Board of Revenue (FBR) does not increase its revenue to 15%, the...