PM Shahbaz Sharif Approved Privatisation of PIA, FBR Restructuring

PM Shahbaz Sharif Approved Privatisation of PIA, FBR Restructuring

Islamabad: Recently elected, Prime Minister Shahbaz Sharif has endorsed the Privatization of Pakistan International Airlines (PIA). This is to be carried out by June 15 along with the restructuring of Federal Board Revenue (FBR).
Read more: FBR Issued Deadline to Submit Tax Proposals for Budget 2024-25

According to the sources, a comprehensive plan aims to divide Pakistan International Airlines (PIA) into two entities. A big chunk of the debt will be shifted to that holding company after acquiring No Objection Certificates (NOCs) from creditors.
The Prime Minister Shahbaz Sharif approved the FBR into two bodies:

1. Federal Customs Board
2. Federal Inland Revenue Board

The restricting plan, initiated by Dr Shamshad Akhtar, will be working on broad-scope amendments to tax statutes and focuses enhancing the tax-to-GDP ratio. PM Sharif also expressed his dissatisfaction with the involvement of National Database Registration Authority (NADRA) in the digitization of FBR.