ISLAMABAD, April 15: Finance Minister Shaukat Aziz has directed the Central Board of Revenue (CBR) that proposals for the next budget (2002-03) should focus on promotion of investment in the country.

This he said while presiding over a meeting of the supervisory council for CBR, which was recently constituted by President Gen Pervez Musharraf, said an official announcement issued on Monday.

The council also approved the site for the establishment of the first ever large taxpayers unit in Karachi. The minister directed the CBR that to facilitate the taxpayers the unit should be operational by July 1, 2002.

The meeting among others attended by Commerce Minister, Secretary General Finance, Deputy Chairman Planning Commission, Secretary Establishment and Chairman CBR.

Shaukat asked the Board that the proposals should also be business-friendly.

The council discussed broad direction of budget for the next financial year. It reviewed CBR’s restructuring process and took decisions to speed up its implementation.

The issues of financial autonomy, compensation and recruitment with reference to the reform were also discussed.

The role of the council will revolve around oversight of the reform process of CBR, approval of revenue targets, approval of resource budget, approval of human resource policy, compensation package and other policy relating to CBR.