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Federal Board of Revenue (FBR) is making concerted efforts to meet the revenue collection targets and the officers and field formations of FBR are exerting themselves with full energy and vigour in the ongoing last quarter which is always the most crucial and productive in terms of meeting the revenue collection target and mobilizing resources to drive socio-economic agenda of the government.
This was stated by Chairman FBR Dr. Muhammad Irshad while addressing the participants of the 106th National Management Course (NMC) of the National School of Public Policy during their visit to FBR House today. He explained that as compared to last year when FBR achieved unprecedented revenue growth, this year the government had decided to follow a growth-oriented approach by giving major subsidies in the oil, export and agri sectors which had a drastic effect on the revenue collection efforts. "These concessions and subsidies are the conscious decision of the government and without them, we would have been comfortably able to register 17 per cent revenue growth," he said in response to a question by a participant of the course.
Earlier, Member Inland Revenue Policy Dr. Muhammad Iqbal gave a detailed presentation to the visiting officers on 'Strategic View, Ongoing Issues
and Future Prospects of FBR' in which he explained the functions and organizational structure of FBR with a focus on Inland Revenue Service and dilated on the major problems of taxation system and the concordant issues, challenges and the way forward.
In a separate presentation on 'Functioning of Customs and Future Strategic Vision', Member Customs FBR Muhammad Zahid Khokhar spoke on the historical evolution of Customs Law, types of laws implemented by Customs, functions of Customs, Pakistan Customs revenue contribution, anti-smuggling performance, major challenges and FBR's response to them.
Later, an interactive Q&A session followed during which visiting officers asked FBR management keen questions on dynamics of fiscal policy and taxation. Commemorative shields were exchanged on the occasion.