Govt to abolish discriminatory SROs in three years

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Finance minister assures stakeholders economic policies will continue

Finance Minister Ishaq Dar said on Tuesday that all discriminatory Statutory Regulatory Orders (SROs) at Federal Board of Revenue (FBR) would be abolished within three years.

Chairing a meeting with presidents of Chambers of Commerce (FPCCI, KCCI, LCCI, QCCI, FCCI, Rawalpindi/ Islamabad CCI, Gujranwala CCI, Sialkot CCI and Hyderabad CCI) the minister said that the government believed in consulting all stakeholders including Chambers of Commerce, trade bodies and representatives of the industries.

He urged the stakeholders to stay engaged with the FBR for consolidation of budget proposals. He assured them that there would be continuity of economic policies in the country and the reform process would be completed within a period of three years.

He said that the policies of the Pakistan Muslim League-Nawaz (PML-N) would fill the trust deficit between FBR and traders. He welcomed proposals from the trade representatives and assured them that the government will give a serious consideration to their proposals before finalising budget.

The chamber representatives discussed in detail their issues and recommendations. They appreciated the work being done by the Finance Ministry and FBR for SROs’ rationalisation.

The traders appreciated strengthening of Pakistani rupee and observed that it will have positive impact on the economy. They also assured the finance minister of their cooperation in bringing into the tax net all not taxpaying traders.

The traders also appreciated finance minister’s personal interest in sales tax refunds. There was a general sense of satisfaction on the economic policies of the government and expectations that reforms will bring positive impact on the country.

The finance minister said that it is high time that we all should join hands for our future generations and promoting tax culture will allow the government to spend in socio-economic uplift of the country.

He informed the traders that the Finance Ministry has been very strict in bringing down the expenditure of the Federal Government adding that every rupee of the taxpayer’s money will be spent wisely.

The meeting was also attended by Rana Assad Amin, Advisor to Finance Ministry and senior officials of the ministry and FBR.