Islamabad Chamber of Commerce and Industry (ICCI) President Sardar Yasir Ilyas Khan has suggested the introduction of structural reforms in the Federal Board of Revenue (FBR), including automation, to enhance its capacity for achieving the country’s revenue targets.
“Introducing automation in FBR will not only increase the annual revenue collection but will also get rid of issues like harassment of the business community,” he said in an exclusive panel interview.
The ICCI president further said that the government could achieve the objectives set as per its current economic agenda through efficiency, transparency, accountability and coordination with the business community.
Moreover, appreciating the current tariff policy of the government, he said that growth in potential industries, especially value addition through the transfer of technology, directly depends on the prevailing structure of the duties. However, he stressed that the policy rate should be reviewed and settled below six percent to provide better business opportunities for small and medium enterprises (SMEs).
Read More: FBR to roll out the track-and-trace system to improve revenue collection.
Source: Daily Times
