LHC lifts stay, adding Rs34.5b to Pakistan's treasury

A recent decision by the Lahore High Court has led to the recovery of Rs 34.5 billion for Pakistan's national treasury. This was possible after the court lifted a stay order related to taxes on the windfall income of banks. The national exchequer saw an immediate benefit of Rs 11.5 billion from this ruling. In total, over the past month, the government benefited by Rs 34.5 billion, thanks to efforts from various officials and the Prime Minister's focus on economic reforms. Prime Minister Muhammad Shehbaz Sharif was directly involved in addressing the issue. He emphasized the importance of assembling a strong legal team to handle these tax cases. His guidance has proven effective, as the team had previously recovered Rs 23 billion following a decision from the Sindh High Court. The Prime Minister praised the efforts of key figures, including the Ministers for Law and Finance, along with the Attorney General and the Chairman of the Federal Board of Revenue. He noted that their hard work enabled this significant achievement. This windfall means more resources for health, education, and public welfare projects in Pakistan. The Prime Minister expressed hope that these efforts would lead to greater tax collection and ultimately improve the country’s economy. He believes that with continued progress, Pakistan can achieve self-sufficiency.