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McKinsey & Company’s Proposal for FBR’s Digitization Gets Approval

McKinsey & Company's Proposal for FBR's Digitization Gets Approval

Finance Minister Muhammad Aurangzeb chaired the meeting of the Steering Committee on the Digitalization of the Federal Board of Revenue (FBR) on Friday, attended by key stakeholders including Chairman FBR, CEO Karandaaz Waqas ul Hasan, Bill and Melinda Gates Foundation Country Lead Syed Ali Mahmood, and representatives from FBR. The committee assessed the progress made so far in the digitalization of FBR’s operations and explored avenues to further enhance efficiency and transparency of tax administration across the country.

Reaffirming the government’s commitment to collaborate with the private sector and all relevant stakeholders, the finance minister emphasized that digitalization of FBR is crucial not only for improving tax collection and administration but also for promoting sustained economic growth. During the meeting, the committee approved the proposal from McKinsey and Company, a globally renowned consulting firm, for the digitalization project.

Director DFS Karandaaz Sharjeel Murtaza briefed the committee on the procurement process, which involved comprehensive technical evaluation by an approved committee comprising senior officials from FBR and technical experts from Karandaaz Pakistan.

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McKinsey and Company emerged as the top bidder after thorough evaluation of technical and financial aspects. The negotiated full and final proposal from McKinsey and Company was presented to the committee, leading to the approval for contracting and onboarding McKinsey and Company and commencing the project.

The minister commended the procurement committee for ensuring the selection of high-quality consulting services for this important national project and stressed the need for a result-oriented approach, leveraging existing knowledge on digitalization, and prioritizing early successes.

The meeting concluded with an agreement on the next steps for commencing the process of digitalization of FBR’s operations through collaboration between FBR and the private sector for a digitally empowered tax ecosystem in the country.