KARACHI: The National Accountability Bureau (NAB) has decided to refer cases of under-invoicing by the businesses community to the Federal Board of Revenue (FBR), the watchdog’s chairman Justice (retired) Javed Iqbal said on Tuesday.

Last year, NAB had referred sales tax and income tax cases to the FBR, a press release issued by the bureau quoted the chairman as saying.

Talking to a delegation of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) led by its vice-president Sheikh Sultan Rehman at the NAB Headquarters, Justice Iqbal said the bureau was giving top priority to resolving issues of the business community.

He said the bureau would utilise all available resources to return the looted money of gullible investors in fake housing schemes where there was no land to offer.

As per law, NAB firmly believes in logical conclusion of money laundering cases, and the cases of all those who have fled abroad after devouring millions of rupees, he added.

Special Complaint Cells headed by respective directors had also been set up at the NAB headquarters and regional bureaus to hear business community’s complaints.

He said NAB had also constituted a high power committee for resolving issues of business community and a meeting in this regard would be called during this month.

According to the NAB’s press release, the FPCCI delegation noted that the watchdog was a business friendly organisation which was engaged in elimination of corruption from country which is common goal of every Pakistani.

The business community assured full cooperation to NAB and urged fellow businessmen that they should not worry due to measures taken by the watchdog.

The FPCCI delegation said notices from NAB about under-invoicing, complaints about the FBR and private agreements were creating fear and panic in the current situation for trade and industry.

NAB must hold accountability but issuing notices to private people involved in the business community, industry and commerce is tantamount to stopping investments in the business community and create fear and panic, the delegation said.

Meanwhile, a press release issued by the FPCCI claimed that chairman NAB issued orders and instructions on the complaints of the delegation on the spot, and terminated the under-invoicing and notices issued by the FBR in private cases.

He further said that if the FPCCI has such notices, they must be brought to his knowledge so they can be terminated.

Justice Iqbal said he would not obstruct trade and investment and further instructed his office not to harass the business community.

The FPCCI delegation comprised of Haji Ghulam Ali, Zakaria Usman, Nasir Hayat Maggo, and Shahzaib Akram.

Published in Dawn, December 16th, 2020