KARACHI: The Federal Board of Revenue’s (FBR) decision to revoke the clause that made it mandatory to warn defaulters 24 hours before freezing their bank accounts would open up a floodgate of corruption, Karachi Chamber of Comm­erce and Industry (KCCI) President Muha­mmad Idrees said on Tuesday.

He appealed to Prime Minister Imran Khan and Finance Minister Shaukat Tarin to restrain the FBR from taking this anti-business action which would prove counterproductive to all the efforts being made by the government for ease of doing business.

At a time when business confidence had just started to revive, the FBR backtracked all the measures taken towards creating a favourable business environment, he said. “In a major blow to the business and industrial community, the FBR has withdrawn the over two-year old instructions that had been issued to bar taxmen from taking money without prior intimation to the account holders.”

He condemned this move based on the fact that this notification was issued after a very detailed deliberation with former FBR chairman Shabbar Zaidi.

Referring to the last meeting of a KCCI delegation with the finance minister in Islamabad, which was also attended by Energy Minister Hammad Azhar, PM’s adviser on commerce Razzak Dawood and FBR Chairman Dr Muhammad Ashfaq, Mr Idrees said the lawmakers had assured the business community of fully facilitating and simplifying taxation laws.

Published in Dawn, October 13th, 2021

Opinion

Crisis looming
Updated 21 Oct 2021

Crisis looming

It will be a terrible mistake for the PM, his acolytes to underestimate the strength of the wave that is about to hit them.
An eye-opener
21 Oct 2021

An eye-opener

A daring report by Indian savants could have been written here.
Past, present, forever
Updated 20 Oct 2021

Past, present, forever

Despite their close relationship, this is hardly the first time the PTI and the military have not been BFFs.

Editorial

Not just cricket
Updated 21 Oct 2021

Not just cricket

Hype surrounding the match — sold out as soon as tickets sales opened — has overshadowed the other games, as well as other teams.
Local governance
21 Oct 2021

Local governance

The court ruling restoring local institutions in Punjab should go a long way in ensuring the continuation of grassroots democracy.
21 Oct 2021

Breast cancer awareness

LIKE so many other issues relating to women’s health in Pakistan, breast cancer is not a subject of serious...
Opposition’s chance?
Updated 19 Oct 2021

Opposition’s chance?

What the opposition can do is take advantage of the cleavage between PTI and the establishment, perhaps widen it and leverage it.
Evading tax laws
Updated 20 Oct 2021

Evading tax laws

Challenge of tax compliance can't be dealt with without directly taxing incomes irrespective of source and punishing tax evaders.
19 Oct 2021

KCR delays

AS political and bureaucratic stakeholders drag their feet over reviving the Karachi Circular Railway, residents of...