The Islamabad Policy Research Institute organized a Special Roundtable on Mechanism for Effective Revenue Collection in Pakistan: Ways and Means here in Islamabad today. The roundtable was chaired by Dr. Waqar Masood Khan, Federal Secretary for Finance Division, while three former Chairpersons of the Federal Board of Revenue (FBR) Mr. Nisar Muhammad Khan; Mr. Tariq Bajwa; and Mr. Ali Arshad Hakeem, apart from Dr. Manzoor Ahmad, Pakistan’s former Ambassador to the World Trade Organization were amongst the esteemed speakers.
The participants emphasized that taxation policies are part and parcel of the economic edifice of modern economies. Through the correct utilization of revenue generated by virtue of efficacious taxation policies, the aim is to establish sound governance and to prevent a scenario where an economy buckles under bloated debt. Contextualizing the matter in the case of Pakistan which has not had primary surplus for many years, there was consensus amongst the participants that revenue collection is the remedy for several economic maladies that beset the country, including poor tax-to-GDP ratio and debt servicing which have marred the already stunted economy. Good governance, uninterrupted social service delivery, robust infrastructure development and controlled inflation can materialize through broadening the tax base.