Finance minister chairs meeting on FBR digitisation process

ISLAMABAD: A steering committee meeting on the digitisation of the Federal Board of Revenue (FBR) was held on Friday.

The steering committee meeting was chaired by the Finance Minister Muhammad Aurangzeb. The primary agenda of the meeting was to evaluate the progress made in the digitisation of FBR operations. The meeting also concentrated on exploring avenues to enhance the efficiency and transparency of tax administration across the country.

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During the meeting, the participants conducted a comprehensive review of the advancements achieved thus far in the digitisation process. The finance minister recognised the importance of modernising tax administration in an increasingly globalised and digitised world.

The minister called for a need for the government to collaborate with the private sector in order to push Pakistan towards a more modernised taxation framework.

The committee realised that digitisation of the FBR is important in augmenting tax collection efforts. It also recognised that digitsation was imperative in streamlining administrative processes within the government department. In this regard, the finance minister stated that it was imperative to leverage technology to improve the effectiveness and transparency of tax administration in entire country, aseptically as the artificial intelligence (AI) technology is advancing by leaps and bounds.

During the meeting, a proposal submitted by a famous consulting firm “McKinsey and Company” was presented was presented. It was later approved by all the meeting participants. The proposal outlined strategies for the digitisation project and aimed at enhancing operational efficiency within the FBR.

The Director of Digital Financial Services Sharjeel Murtaza provided insights into the procurement process during the meeting. A detailed negotiation proposal from McKinsey and Company was also presented for the participants’ consideration.

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The participants granted approval for the FBR to enter into a contract with McKinsey and Company after deliberating over the matter for a while. The FBR will now work with McKinsey and Company to commence digitisation of the former.

The finance minister commended the procurement committee for ensuring the selection of “high-quality” consultancy services. He praised the commitment in acquiring expertise necessary for the successful implementation of the digitisation initiative.