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Wednesday, November 13, 2024

Careers

Chairman FBR: IMF Approves Tax Cut for Textbooks, Newspapers

 

During a recent meeting of the Senate Standing Committee on Finance, the Chairman of the Federal Board of Revenue (FBR) revealed the process of receiving lists from various agencies recommending the removal of certain officers. These agencies also submit these lists to the Prime Minister, who then forwards them to the FBR. The Chairman clarified that the FBR does not unthinkingly follow these recommendations but carefully examines and assesses each list.

We do not act on these lists with our eyes closed,” the Chairman explained. We scrutinize them with complete honesty, debating the entries we believe are incorrect and acknowledging those that are accurate. Our objective is to ensure fairness and integrity in our operations.

Assurance of Rule-Making

The Minister of Finance and the FBR Chairman assured the committee of their commitment to developing clear rules and guidelines. The Committee Chairman suggested holding an in-camera session to discuss the specifics of pooling officers and the circumstances surrounding the FBR Chairman’s early retirement request.

Concerns Raised by Senator Farooq H. Naek

Senator Farooq H. Naek expressed serious concerns about taxing children’s stationery. You can tax me, and I will not object but let the children study. Why hasn’t the tax on children’s stationery been abolished? We should at least make education affordable for our children, he urged.

FBR’s Efforts with IMF

FBR Chairman Amjad Zubair Tuwana elaborated on their efforts with the International Monetary Fund (IMF) to address this issue. We spent the entire night negotiating with the IMF, but they only permitted the removal of taxes on textbooks and newspapers. We advocated strongly for reducing educational costs, but the IMF’s constraints limited our request for a broader tax exemption.

Discussion on Early Retirement of FBR Chairman

The Committee Chairman stated that understanding the motivations behind the FBR Chairman’s request for early retirement was also a priority. The FBR Chairman cited personal reasons for his decision: I have made the decision to retire early based on personal grounds.

Calls for In-Camera Session

In light of these discussions, the Committee Chairman reiterated the need for an in-camera session to delve deeper into these matters. “A private session will allow us to thoroughly discuss the pooling of officers and the reasons behind the FBR Chairman’s early retirement,” he said. The meeting concluded with plans to schedule this session, ensuring that all concerns and questions are addressed comprehensively.
This detailed examination reflects the committee’s dedication to transparency, accountability, and the effective management of public resources and administrative processes.

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