Pakistan Faces Rs. 6 Trillion Loss Annually from Corruption, Says Minister

Federal Minister for Maritime Affairs, Qaiser Ahmed Sheikh, stated at the All Pakistan Chambers Presidents’ Conference that Pakistan suffers losses amounting to Rs. 6,000 billion annually due to corruption. He attributed a significant portion of this corruption to the Federal Board of Revenue (FBR), emphasizing that even businessmen are involved in such practices.

Regarding taxation, the minister acknowledged an increase in taxes for salaried individuals but assured minimal impact on those with lower incomes.

Earlier in the conference, Planning Minister Ahsan Iqbal underscored the necessity for Pakistan to boost its exports to $100 billion to alleviate economic challenges. He also emphasized the crucial role of political stability and consistent policy implementation in fostering the country’s development.

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