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Finance Minister to brief CCI on public debt management & supervision policy today

ISLAMABAD: Finance Minister Ishaq Dar along with his key economic team members, today (Wednesday) will brief the Council of Common Interests (CCI) on the progress regarding implementation of public debt management and supervision policy.  CCI in its previous meeting held in May 2014, took briefing from the Finance Minister in this regard and issued directions to further improve the enforcement ... Read More »

Five Inland Revenue officers of BS 19-20 transferred

ISLAMABAD: Federal Board of Revenue (FBR) has transferred/posted five Inland Revenue Service officers of BS 19-20 with immediate effect.- According to the notification, the transferred officers who are drawing performance allowance prior to issuance of this notification shall continue to draw this allowance on the new place of posting. The officers have been directed to relinquish/assume charge, using online HRMS ... Read More »

Adiala jail authorities reject reports of ‘special treatment’ to Ayyan Ali

RAWALPINDI: Superintendent Adiala Jail Malik Mushtaq Awan denied all the media reports that accused model and actress Ayyan Ali was being given special protocol in jail. He said neither anybody came to meet Ayyan Ali nor did jail authorities serve her with special meal. “Ayyan Ali ate from jail menu,” he explained. He said that the actress was being detained ... Read More »

$500,000 smuggling case: Customs court rejects bail plea of model Ayyan

ISLAMABAD: Supermodel Ayyan has to face another blow on Monday, when a Customs court in Rawalpindi rejected her bail plea. Ayyan was arrested on Saturday by the Customs officials at Islamabad’s Benazir Bhutto International Airport for ‘smuggling’ $500,000 out of the country. The model had claimed that she had received $500,000 after selling property to former interior minister Rehman Malik’s ... Read More »

FBR Headquarters gets a gym to keep officials healthy

ISLAMABAD: Federal Board of Revenue Chairman Tariq Bajwa has inaugurated the FBR gymnasium at Islamabad Headquarters, where government employees can exercise in their free timing. This gymnasium has been dedicated to Riaz Hussain Naqvi. The FBR is the second federal institution where officials have been provided the facility of a gymnasium. This facility was previously only available at the Foreign ... Read More »

Finance Ministry follows tiered monetary policy towards regional countries

ISLAMABAD: The Finance Ministry follows monetary police towards the regional countries based on tiered objectives defined in law, and the instruments that help in achieving these targets.  The first set of objectives of the said monetary policy is the ultimate target, which is defined in the legislation of state banks of regional countries and these banks are bound to achieve ... Read More »

Securities Bill 2015 to safeguard investors’ interests

ISLAMABAD: The Securities Act 2015 will regulate the securities sector and provide protection to the investors through a risk management mechanism. Presently, Securities and Exchange Ordinance 1969 (SEO1969) regulates Securities market. A report on the Securities Act 2015 finalized by the Senate Standing Committee on Finance and Revenue, adopted by the Upper House of the Parliament and available with this ... Read More »

0.25 million notices issued: Taxpayers should pay their taxes honestly, says Shahid

ISLAMABAD: Federal Board of Revenue (FBR) spokesperson Shahid Hussain Asad has said that government is striving to bring 0.1 million people in tax net every year to improve tax collections. Talking to Radio Pakistan’s programme FBR spokesperson said that ratio of tax collection needs to be improved and all tax payers should pay their taxes honestly. He said FBR has ... Read More »

Elimination of corruption is top priority of FBR: Qurban Ali

ISLAMABAD: Federal Board of Revenue (FBR) Chief Management Qurban Ali said that record of Inland Revenue and Customs will be computerized at the earliest. Talking to Customs Today, he said that strong decision should be taken to improve the system and to eliminate the menace of corruption. He added it was FBR’s top most priority to bring honest people in ... Read More »

£10 bribe scandal: Nisar directs FIA to arrest corrupt Customs officer, submit report in 48 hours

ISLAMABAD: Federal Interior Minister Chaudhry Nisar Ali Khan, taking strict notice of the report published in a British newspaper Sunday Mirror, has ordered the FIA to immediately arrest the Customs Officer identified in the report. The Interior Minister also ordered the FIA to complete the investigation into the matter and submit him report within 48 hours. The Sunday Mirror on ... Read More »

Bajwa to meet United Goods Transportation Alliance on 20th

ISLAMABAD: The United Goods Transportation Alliance will meet Federal Board of Revenue (FBR) Chairman Tariq Bajwa on March 20 to discuss problems regarding container transportation. As per the detail, the meeting was earlier scheduled for March 13, which could not be held due to some reasons. Now, the meeting will be held on March 20 at the FBR Headquarters in ... Read More »

FBR team dissatisfied over poor construction of Tax Facilitation Centre building in Daska

ISLAMABAD: A four-member monitoring and evaluation technical team of the Federal Board of Revenue (FBR has expressed dissatisfaction over the deficiencies and shortcomings in the newly constructed Tax Facilitation Centre (TFC) in Daska. Presently, the Tax Facilitation Office is functioning in a rented building which is badly affecting the performance of tax collectors and other staff members. “The monitoring and ... Read More »

National Testing Service to conduct written test for recruitment of FBR staff

ISLAMABAD: Federal Board of Revenue (FBR) has decided that the recruitment tests for customs and Inland Revenue (IR) vacancies will be conducted through National Testing Service (NTS) to bring transparency. As per detail, NTS will hold only written test against the vacant post while the interviews of the selected candidates will be conducted by the high ups of the FBR. ... Read More »

Rs30 to 40b already paid: Bajwa forms body to resolve refund dispute with banking companies

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Tariq Bajwa has step up efforts to resolve the dispute between revenue authority and banking companies over the reconciliation of figures of refunds and compensations. “This issue has been lingering over last decade and now the FBR Chairman constituted a three-member high-level monitoring and evaluation team to look into the matter,” a well ... Read More »

American Congress to renew US GSP for Pakistan by summer: Dastgir

ISLAMABAD: Federal Minster for Commerce Engr Khurram Dastgir has announced that US Congress will renew US GSP status for Pakistan by summer which has been suspending since last 19 months as the Ministry of Commerce is planning to file a writ petition with the United States to get the US GSP status operational. Dastgir Khan, addressing the 3rd Pak-US Business ... Read More »

FBR starts budget preparations, seeks tax proposals from business community

ISLAMABAD: The Federal Board of Revenue (FBR) has started the budget preparations for 2015-16. The board is also seeking taxation proposals from business community along with changes in customs tariff for protection of local industry in the Finance Bill (2015-16). The FBR has given directions to the field formations and all chambers of commerce and industries in this regard. According ... Read More »

FBR Chairman Tariq Bajwa reviews revenue targets in meeting

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Tariq Bajwa chaired an important meeting on Wednesday at the FBR House to review the revenue targets. Inland Revenue Policy Member Shahid Asad, Inland Revenue Operations Member Muhammad Ashraf Khan and chief commissioners of Large Taxpayers Units of Lahore and Karachi participated in the meeting. Speaking on the occasion, the FBR chairman directed ... Read More »

FBR Member Admin Shahid Jatoi vows to end corruption

ISLAMABAD: Federal Board of Revenue (FBR) Administration Member Shahid Hussain Jatoi has said that the board did not ask for 400 names of corrupt officials from the collectorates and regional tax offices across the country. “But it does not mean that the board will not take action against corrupt officials. A stern action will be taken against every corrupt official.” ... Read More »

Bajwa to inaugurate seminar on communication strategy in collaboration with British DFID, HMRC

ISLAMABAD: Chairman Federal Board of Revenue (FBR) will inaugurate one day seminar on communication strategy here today (Thursday). International experts will also deliver lecture on best international tax and revenue practices.  “Seminar is meant devise strategy along with preparation of recommendations for making FBR an effective, vibrant and capable organization to meet the emerging challenges,” a well placed source told ... Read More »

US govt launches US-Pakistan Partnership for Access to Credit program

ISLAMABAD: The two-day 3rd Pak-US Business Opportunities Conference concluded here with reiteration of firm resolve by the US businessmen and delegates to come up with investment plans in Pakistan.  The visiting US businessmen were highly impressed by the briefings given by the concerned Pakistani officials about investment, privatization, tax and other policies, therefore they expressed their commitment to step forward ... Read More »

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