ISLAMABAD - President Mamnoon Hussain on Sunday approved an ordinance bringing into effect a tax amnesty scheme announced by the government earlier this week.

Prime Minister Shahid Khaqan Abbasi unveiled a five-point tax reforms package on Thursday, which included a tax amnesty scheme for undeclared foreign and domestic assets, and reduction in income tax rates. The prime minister launched the amnesty scheme and reforms package in a last-ditch attempt at broadening the government's revenue base, merely 55 days before the end of the government's tenure.