ISLAMABAD - The federal cabinet yesterday approved the much awaited restructuring and digitization plan of the Pakistan top central tax collection body Federal Board of Revenue (FBR).
The approval was granted on the recommendation of Revenue Division during the cabinet meeting held here with Caretaker Prime Minister Anwaar-ul-Haq Kakar in the chair. Under the approved reforms, a Federal Tax Policy Board will be constituted in the Revenue Division. The Board will ensure formulation of national tax policy, fixation of revenue targets and liaison with the stakeholders.
Under the reforms plan, the Federal Finance Minister will be the head of the Federal Tax Policy Board while Federal Secretaries for Finance, Revenue and Trade, Chairman NADRA and experts of the relevant departments will be members of the Board.
Under the plan, Customs and Inland Revenue Departments will be separated and would be led by Directors General of relevant cadres. Both the DGs will be fully authorized for institutional, economic and operational matters of their respective department.
They will ensure the implementation of internationally adopted measures for digitization, complaint resolutions and transparency. There will be separate oversight boards for Inland Revenue and Customs. Speaking on the occasion, the Prime Minister instructed that there should be no clash of interests, while making appointments of experts. He also directed to submit the draft summary of reforms to the upcoming elected parliament for necessary legislation. However, secretary election Commission of Pakistan in a letter addressed to the principal secretary to the PM asked to halt the implementation of the FBR restructuring plan. The letter reminded the principal secretary that the job of the caretaker government is to hold general elections 2024 and not the long-term restructuring of ministries and departments.
PM CALLS FOR CONCERTED EFFORTS TO EXPLORE OIL, GAS RESERVES
Meanwhile, the PM while addressing the Petroleum Conference 2024 as chief guest here affirmed the government’s readiness to contribute in infrastructure development, logistics, and security to bolster oil exploration and production efforts in Pakistan.
Chief of Army Staff, General Syed Asim Munir, NI (M) was the guest of honour at the conference.
Provincial Chief Ministers, Minister for Energy, Secretary Petroleum, Government representatives, policy makers, foreign and domestic investors from the Energy and Petroleum (E&P) sector and international delegates also attended the conference.