Federal Minister for Finance Senator Ishaq Dar has constituted committees to improve Pakistan’s rating on ease of doing business index as well as broadening of tax base.
The committee on ease of doing business will review Pakistan’s ranking of ease of doing business by the World Bank. It will strive to develop a comprehensive plan for components of doing business indicators and other investment climate areas. The committee is also to advise government on implementation of doing business reforms besides assisting in any other task assigned by the finance minister.
Bashir Ali Mohammad, Pakistan Business Council, has been named chairman of the committee which also includes as members, chairman/secretary BOI, secretary commerce, FBR chairman or his nominee member(s) FBR, chief secretaries from all the four provinces (or their nominees not less than the level of secretary), Mian Mohammad Idress, President FPCCI, Abdul Aleem, Overseas Investors Chamber of Commerce & Industries, Karachi, and presidents of Karachi, Lahore, Peshawar and Quetta chambers of commerce and industries.
The minister has also constituted a committee on broadening of tax base. The committee has the task to review and rationalise direct and indirect taxes with a view to broadening the net. It also has to recommend and discuss new tax measures. It has to provide input on different tax policy issues enabling the government to adopt a pluralistic view representing divergent interest group, and at the same time enhance tax revenues.
The committee on broadening the tax base will also suggest measures for extending tax net besides proposing legislation which would minimise opposition and increase compliance to law. It will assist in any other task assigned by the finance minister. The committee is headed by president Federation of Pakistan Chamber of Commerce and Industry (FPCCI), Karachi.
Meanwhile, Ishaq Dar had detailed exchange of views with senior officials of the Federal Board of Revenue and the finance ministry sharing with them his thoughts on tangible measures in the budget 2015-16 which could ensure enhanced revenue collection. Enhancement in revenue collection, he said, was necessary for economic betterment of the people and the country.
The minister referred to his spate of meetings with various stake holders, the tax advisory council, economic advisory council and representatives of different business associations over the past few days. He said all of them contributed useful proposals which could help devise an effective strategy for revenue collection and shape up the budget. He also emphasized that recommendations by the tax reforms commission should also be reflected in the budget.
