— Prime Minister commends efforts leading to significant tax recovery
ISLAMABAD: The Lahore High Court (LHC) on Saturday dismissed a stay order concerning the tax on banks’ additional income, known as windfall income, under the Finance Act 2023.
Prime Minister Shehbaz Sharif had previously intervened in the case, instructing the Law Minister and Attorney General to assemble a team to address the matter. Over the past month, this team has succeeded in recovering Rs23 billion following decisions from the Sindh High Court and Rs8.4 billion after the LHC ruling.
The Prime Minister lauded the efforts of Law Minister Azam Nazeer Tarar, Finance Minister Muhammad Aurangzeb, and Attorney General Mansoor Usman Awan, calling their achievements historic. He emphasized that such actions were essential for increasing tax revenue and strengthening the economy.
A total of Rs31.5 billion has been deposited into the national treasury, which will be allocated for health, education, and other public welfare initiatives. The Prime Minister expressed confidence that such steps would help Pakistan become self-reliant.
