ISLAMABAD, July 11: President Gen Pervez Musharraf here on Thursday set up a Cabinet Committee for Federal Revenues to oversee the reform process of the Central Board of Revenue (CBR) and approve the estimates of revenue targets.

Minister for Finance Shaukat Aziz, when contacted by Dawn, said that the cabinet committee on revenues will replace the existing Supervisory Council of the CBR. “The purpose is to have more attention on CBR affairs”, he added.

The cabinet committee will have six members with minister for finance as its chairman and its other members include minister for commerce, deputy chairman Planning Commission, secretary general ministry of finance, secretary establishment division, and secretary revenue division who will also act as the secretary to the committee.

The charter of the committee would also be approving the estimates of resource budget of CBR, to approve human resource policy and compensation package of CBR employees, and to prepare and critically analyze the quarterly performance report of CBR for submission to the chief executive and the president. The revenue division will be the secretariat of the cabinet committee.