Prime Minister Shehbaz Sharif has directed the Privatization Ministry to present the final schedule for the implementation of the privatization of Pakistan International Airlines.

He presided over a high-level meeting regarding the privatization of PIA and the restructuring of the Federal Board of Revenue in Islamabad today.

The Prime Minister emphasized ensuring transparency at all stages in the privatization process of the National Airline and clarified that laziness and carelessness will not be tolerated in this regard.

The progress of the privatization of PIA so far and the upcoming steps in this regard were reviewed in the meeting.

The Prime Minister further directed the Law Ministry to immediately make recommendations for the resolution of pending cases and legal disputes in the courts related to tax collections and revenue so that the hurdles in the way of disbursement of 1.7 trillion rupees to the national exchequer can be resolved.                               

He also directed to submit proposals regarding the establishment of legal department in the Federal Board of Revenue.

Giving in-principle approval of the proposed roadmap of FBR automation system, the Prime Minister directed to implement this roadmap with a clear time frame. He asked that targets not only be realistic but also the fastest in the region in terms of speed of implementation.

Shehbaz Sharif said there is no time to waste and expressed resolve to work round the clock to achieve this goal. He said this is the question of country's bright future and economic recovery.

Meanwhile, automation of FBR, ensuring transparency in the system, structural reforms according to global standards, increase in tax through incentives, elimination of corruption and smuggling, separation of inland revenue and customs departments and tax rates came under discussion in the meeting.

He termed implementation of reforms as inevitable to achieve the six to seven percent national growth rate.

Expressing desire to modernize tax and revenue system, the Prime Minister called for introducing incentive based tax system.

He asked business community to play its role in the development and social service of the people of country.

He emphasized to fully check the exemptions given on all taxes and ensure an effective third party audit system.

Shehbaz Sharif said if Small Medium Enterprises had been developed today, then Pakistan would not be behind the developed countries of the world. He said that now SMEs sector will be promoted which was not encouraged in last forty years.

On this occasion, Dr. Shamshad Akhtar told the meeting that tax to GDP in Pakistan is less than 9.5 percent as compared to the rest of the world, which is very important for the development of Pakistan.

She said that 55.6 percent do not pay any tax while only 3.3 percent pay tax. She further said that two hundred thousand people pay ninety percent of tax.