ISLAMABAD: The Federal Board of Revenue (FBR) Chairman, Amjed Zubair Tiwana, has confirmed that the caretaker government has approved reforms for the FBR. However, the implementation of these reforms is set to be carried out by the next elected government.
This announcement came during an informal discussion between the FBR Chairman and the Chairman of the Senate Standing Committee on Finance, Saleem Mandviwala, regarding the FBR reforms. The FBR Chairman assured that the groundwork for the reforms would be completed by the FBR, with the finalized plans to be submitted to the upcoming government for implementation.
Prior to the Senate Standing Committee on Finance meeting, the FBR Chairman addressed various queries from the committee chairman regarding the restructuring plan of the FBR. Subsequently, the committee proceedings were made in-camera upon the FBR’s request, focusing on the embezzlement of Rs 410 million from an overseas Pakistani account in a commercial bank.
During the closed-door session, the Director Federal Investigation Agency (FIA), Karachi, briefed the committee on the investigation into the disappearance of Rs410 million. The director revealed that an FIR was filed against five individuals on February 19, 2024, and the investigation is ongoing. The committee stressed the urgency of recovering the embezzled amount, with Senator Farooq Naek advocating for freezing the accounts of those involved.
The committee directed the FIA to expedite the investigative process for a swift resolution. It emphasized that the issue, along with others pending resolution, would be continued by the newly formed finance committee after the Senate election.
In closing remarks, Chairman Mandviwala expressed gratitude to the committee members for their support. He acknowledged the Ministry of Finance and Revenue and its affiliated departments for their cooperation. Committee members appreciated his balanced and comprehensive chairmanship.
The meeting was attended by Senators Farooq Hamid Naek, Saadia Abbasi, Zeeshan Khanzada, Sherry Rehman, and Syed Faisal Ali Subzwari, along with the additional secretary of the Finance Division, the director FIA, and other relevant officials.
