The Doctor conjures up another hard pill to swallow


The Federal Minister for Finance Dr. Abdul Hafeez Shaikh stressed the need of increasing the momentum of revenue collection to achieve the target of Rs. 1952 billion. Finance Minister while addressing the Tax Reforms Coordination Group (TRCG) at Federal Board of Revenue (FBR) expressed hope that after achieving the Provisional Collection upto April was about Rs. 1424 billion figures, FBR would achieve the Rs 1952 billion target. Chairman FBR Mumtaz Haider Rizvi, in his opening remarks informed the Minister about the discussions so far held between the TRCG and FBR. Exclusive discussions on policies and strategies to improve the tax policy with a view to increase the revenue were held along with presentations by FBR. Budget proposals for the upcoming budget to be presented in May 2012 were extensively discussed and strategized. Shaikh expressed confidence and hope that the assigned budget targets would be achieved through sustained efforts. He desired that the detailed collection under various heads be sent to him on daily basis. The day-long meeting continued till late evening. The Tax Reforms Coordination Group crystallized the current proposals on the forthcoming budget, with the objective to facilitate business, reduce cost of doing the business, avoid economic burden, harmonize tax laws and promote industry and commerce while improving tax collection. The meeting was attended by Deputy Chairman Planning Commission Dr. Nadeem ul Haque, Federal Secretary Finance Abdul Wajid Rana, Secretary EAD Dr. Waqar Masood, DG (ERU) Dr. Khaqan Najeeb and Members TRCG Mr. Irfan Nadeem, Arshad Zuberi, Bashir Ali Mohammad, ShabbaMs. Riffat Shaheen Qazi Member (FATE),Shahid Hussain Asad Member (IR), Sardar Amimullah Khan Member (Enforcement & WHT), Raza Baqir Member (Admin), Azra Mujtaba Member (SP&S) and Nisar Muhammad Chief Collector (North) FBR.