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Finance Minister meets Tax Advisory Council - Press Note issued by Press Information Department

May 19, 2014

Following is the text of press note issued by Press Information Department (PID)


Finance Minister Senator Ishaq Dar presided over a meeting of Tax Advisory Council comprising all stakeholders including Chartered Accountants, Academia, senior tax consultants, retired senior officers, industrialists, Presidents of FPCCI, four provincial CCIs and professional associations including ICAP, ICMA, President Tax Bar, SECP, Pakistan Banking Association, KSE, LSE and ISE with the FBR officials for consultation on Budget related proposals to be incorporated in the financial year 2014-15 at the FBR today.

The Finance Minister said that economic recovery is the top priority of the PML-N Government and with the introduction of reforms during the last ten months, the economy has been put on the right direction. Now with the hard work, commitment and dedication, all the economic indicators are on the upward trajectory, he added.

He said that we believe in consulting all stakeholders including Chambers of Commerce, trade bodies, representatives of the industries, exporters and importers in the process of budget making. He informed the traders that today he suspended implementation of SRO 351 of 2014 which was issued by FBR without his approval and was unfair in its spirit.

He further informed the traders that all discriminatory SROs will be abolished in a period of three years and all the stakeholders are working together in this regard. He emphasized on formulation of realistic proposals aimed at ensuring growth in the economy and revenue generation enabling the government for appropriate allocation in development sector and social safety net.

The business representatives discussed in detail their issues and recommendations. They appreciated the work being done by the Finance Ministry and FBR for SROs rationalization. The trade representatives appreciated Finance Minister's sincerity, headwork and dedication for the uplift of country.

The traders also appreciated Finance Minister's personal interest in sales tax refunds up to rupees one million. There was a general sense of satisfaction on the economic policies of the government and expectations that strengthening of rupee will bring positive impact on the country.

The Finance Minister said that transparency, merit, openness and good governance remained hallmark of the PML-N government and resolved to make every effort possible to facilitate the traders on their reasonable demands while keeping in mind the national interest for taking the country forward on way to development and progress. Chairman SECP, Chairman FBR, representatives of Chartered Accountants Firms and senior officials of the Ministry of Finance and FBR also attended the meeting.

For more information, contact:

Haji Ahmed Malik

Principal Information Officer

Press Information Department (PID)

Tel: +9251 925 2323 and +9251 925 2324

Fax: +9251 925 2325 and +9251 925 2326



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Source: Pakistan Press International

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