Strict actions being taken to increase trade and industrialization: Chairman FBR

LAHORE: Chairman Federal Board of Revenue (FBR) Shabbar Ali Zaidi today (Saturday) in a press conference said that the real motive for strict actions on asset recovery is to increase trade and industrialization in the country, ARY News reported.

Chairman FBR addressing the trader community said: “Traders have a lot of complaints against the institute of customs and we are trying to resolve them on priority basis.”

“Green Channel will be increased from 40 to 60 percent,” announced Zaidi.

Zaidi also told that the prices of edible ghee and oil would not be increased after strict directives from the Prime Minister himself.

Chairman FBR also announced that none of the accounts have been frozen as yet of the people who failed to or refused to declare assets in the government’s declaration (amnesty) scheme.

Zaidi expressed that they had been working diligently towards ending misuse of power in the institute and bettering the workings of the Federal Board of Revenue.

Speaking on the IMF bailout package Zaidi said that the International body had given a major relief to the government in terms and conditions.

Zaidi expressed resolve to completely automate the processes of the institute and its dealings.

Earlier, The Federal Board of Revenue on July 3 announced that Rs70bn revenue was collected through ‘Asset Declaration Scheme’.

A FBR spokesperson told the journalists that a total 110,000 people had taken benefit from the tax amnesty scheme and added that over 25,000 people were in pipeline.

Last year, 84,000 people had availed the scheme and over Rs 124bn revenue had been collected, said that spokesperson.

Earlier in the day, Chairman Federal Board of Revenue (FBR) Shabbar Zaidi had said that one lac five thousand people had benefited from the scheme.