Islamabad, In a noteworthy endorsement of recent government strategies, Dr. Shahid Rasheed Butt, former President of the Islamabad Chamber of Commerce and Industry, lauded Prime Minister Shahbaz Sharif for his decision to impose the burden of tough economic measures on the elite, thereby shielding the poorer population segments. This approach, coupled with strategic administrative changes and technological enhancements within the Federal Board of Revenue (FBR), aims to foster a more robust and equitable economic framework.

According to Islamabad Chamber of Commerce and Industry, Dr. Butt highlighted the Prime Minister's acute awareness of the necessity for painful reforms to stimulate investment and economic stability. By transferring responsibilities of the Economic Coordination Committee (ECC) to the Finance Minister and advocating for the automation of the FBR, Sharif is spearheading efforts to streamline governmental operations and enhance revenue collection.

The envisioned automation of the FBR is projected to significantly increase transparency, reduce public grievances, and boost the government's revenue collection from Rs9 trillion to a potential Rs14 trillion. Additionally, the expeditious resolution of pending revenue and claim cases could yield substantial fiscal benefits, easing various socio-economic pressures.

Dr. Butt underscored the significance of addressing the pervasive issues stemming from Pakistan's sizable undocumented economy, which undermines the nation's tax-to-GDP ratio. With ECC at the forefront of economic policy-making and strategic planning, the focus remains on macroeconomic stability, sustainable growth, and narrowing income disparities, while also rectifying systemic fiscal challenges.

This policy shift, emphasizing responsibility at the upper echelons of society and economic prudence, reflects a comprehensive strategy aimed at revitalizing Pakistan's economic landscape amidst ongoing challenges.