PM Shehbaz announces issuing blue passports, other incentives for top taxpayers

Prime Minister Shehbaz Sharif acknowledged the vital role highest-tax paying Pakistanis play in the economy and announced a range of exclusive benefits, including the issuance of Blue passports and Pakistan Honour cards.

During his speech at the 'Tax Excellence Awards' ceremony, the premier underscored the importance of cooperation between the private and public sectors to address Pakistan's economic challenges. 

He urged for eliminating red tape, minismising delays, and nurturing a business-friendly atmosphere to allow the business community to thrive. 

The PML-N president further said that the government's role is not to directly run businesses but rather to create a favourable environment and provide necessary facilities. 

"By making policy and implementing it through a consultative process, the government can empower Pakistan to compete on the world stage in the coming years and join other developed nations."

Increasing taxes is not the most effective solution, instead, PM Shehbaz stated that the focus should be on reducing tax brackets while simultaneously reducing loopholes within the system.

The Prime Minister announced that major taxpayers and exporters will be granted honourary ambassador status abroad. Pakistani embassies worldwide will be instructed to provide them with full support.

The country's topman further asserted that a Rs65 billion refund has been issued to exporters at his direction, and emphasised that such refunds should be handled routinely and without delay in the future.

PM Shehbaz highlighted Pakistan's low tax collection rate, which sits at around 9% of GDP,  the lowest in the region. 

He pointed out that widespread tax evasion is a major hurdle, and simply "raising taxes would not solve the problem".

The premier called for innovative measures to address the issues.