Dr. Shamshad Akhtar explains measures current govt has undertaken to stabilize economy & to ensure optimum revenue collection

KARACHI, Oct 29 (SABAH): Caretaker Federal Minister for Finance and Revenue Dr. Shamshad Akhtar and Chairman Federal Board of Revenue (FBR) Malik Amjed Zubair Tiwana visited Overseas Investors Chamber of Commerce & Industry (OICCI) and Korangi Association of Trade & Industry (KATI) on Friday in Karachi and held meeting with their representatives.

The meeting was also attended by all chief commissioners-IR and Chief Collectors Customs heading their respective field formations stationed in Karachi. The representatives of OICCI and KATI acknowledged the efforts of FBR field formations in taxpayers’ facilitation and revenue mobilization while also highlighting the issues like complicated tax compliance, over regulation, absence of documentation at cottage industry level, narrow tax base, non-filers, transit trade and IT glitches faced by exporters.

Dr. Shamshad Akhtar explained measures current government has undertaken to stabilize economy and to ensure optimum revenue collection. During the meeting, Chairman FBR discussed issues raised by representatives of both bodies and assured them that their concerns will be addressed instantly. He also emphasized on recent important initiatives taken by FBR like designating 50% of RTOs workforce for Broadening of Tax Base, Track and Trace System and crackdown on non-duty paid goods.

The Minister and Chairman FBR also visited LTO, Karachi and held meeting with Chief Commissioner-IR, Chief Collectors Customs and Commissioners-IR. During the meeting, the minister appreciated FBR field formations for exceeding collection target during the first quarter of the current financial year and directed CCIRs to continue making endeavours to meet the budgetary target fixed for the year.