ISLAMABAD - Federal Minister of State for Finance and Revenue Ayesha Ghous Pasha on Tuesday said that Pakistan has neither defaulted nor it would be as talks with the International Monetary Fund (IMF) have entered into a final stage.
Talking to media here, she said that one of the reasons behind Pakistan’s current economic situation is international situation. She further said that people should dispel the rumours about the country’s default. She claimed that the government is following a strategy to steer the country out of the economic crisis and soon there would be stability on economic front. The parliament has already passed the mini budget, which was one of the prior conditions of the IMF. She said that the government has retained the subsidy on electricity and gas for the poor after withdrawing it for the elite class.
Earlier, Senate Standing Committee on Finance and Revenue in its meeting here urged the Federal Board of Revenue (FBR) to seek speedy disposal of cases by the FBR before various court specifically those bringing significant revenue to the country. The committee was apprised that a total of 76,349 pending litigation cases Inland Revenue service till 31-12-2022 out of which 63,655 cases are of the appellate Tribunal Inland Revenue. The FBR informed the committee that they are trying to approach the secretary and Minister Law for record of these cases.
During the meeting, the Chairman FBR informed the committee that back to back meeting with the chief Justice Lahore High Court and Chief Justice Islamabad High court are being conducted and making all efforts to liquidate its pendency.
Mandviwalla said that the Customs Operation wing has already set up Alternate Dispute Resolution (ADRCs) mechanism for quick and amicable disposal of pending litigation cases and settlement should be made through ADRCs’ the committee also suggested if cases can be resolved outside court. The chairman committee said that there is difference between tax evasion and AMLA and failing to response cannot fall under the category of money laundering. He compelled the FBR to avoid bundling up cases under the AMLA act hampering the business community to trade he also put special emphasis on keeping a close check on pending cases in different fora for early disposal and discourage frivolous litigation.