In a move aimed at ramping up tax compliance, Pakistan’s Federal Board of Revenue (FBR) is bringing 102 seasoned industry and audit professionals on board to carry out targeted field audits in 42 major sectors of the economy.
The decision follows the FBR’s mapping of industries with high revenue potential and possible compliance gaps. The list spans a broad spectrum—from automotive and aviation to banking, beverages, cement, electronics, fertilizers, real estate, and telecom.
First Wave Targets 14 High-Value Industries
The rollout will begin with 14 sectors seen as critical revenue contributors or prone to underreporting. These include automotive, textiles, iron and steel, independent power producers (IPPs), power distribution companies (DISCOs), pharmaceuticals, financial services, sugar, chemicals, fertilizers, petroleum, real estate, insurance, and tobacco.
Third-Party Auditors for Objectivity
To avoid conflicts of interest and maintain audit integrity, the FBR will enlist third-party firms to carry out much of the work. A dedicated selection committee will evaluate candidates—either through in-person sessions or virtual assessments—to ensure the right technical expertise is deployed.
Human resource firms tasked with finding these specialists have been told to meet strict quality benchmarks, matching each expert’s skills with sector-specific requirements.
The initiative signals a stronger enforcement approach from the FBR, with an emphasis on using domain-specific knowledge to close loopholes and improve revenue collection efficiency.