Mr. Ahmed Waqar, Chairman FBR, visits FPCCI to discuss budget proposals
The Chairman Federal Board of Revenue (FBR), Mr. Ahmed Waqar along with his members and senior officials visited FPCCI on April 20, 2009 to discuss Budget Proposals for 2009-10. Mr. Sultan Ahmed Chawla President, FPCCI welcomed them and thanked the Chairman for sparing time to visit FPCCI and to listen to the problems being faced by the business community across Pakistan on issues related to Budgetary Policy.
The Budget proposals prepared by FPCCI were discussed item by item. Some of the proposals were accepted and others were promised to be reviewed with the relevant Ministries before taking a final decision.
The Chairman FBR agreed to (i) withdraw all audit notices, except where FBR had specific information; (ii) do valuation of imports on the current international prices rather than the pervious international prices, as they have gone down substantially; and (iii) expedite the refund cheques.
It was proposed by the FPCCI that Afghan Transit Trade Valuation should be on the same basis as per agreement between India & Nepal and both Afghanistan and Nepal are in the same geographical situation.
In order to check the menace of under invoicing, the Chairman FBR informed that he has already constituted a committee for valuation of imported items. The committee consists of Member Valuation, representatives of FPCCI, KCCI, OCCI and IBA.
The positive approach of Chairman FBR and his team was highly appreciated and it was agreed to continue the dialogue to strengthen the mutual trust between private and public sectors.
The meeting was also attended by Mr. Tariq Sayeed, President SAARC CCI and former President FPCCI, Mr. S.M. Muneer, President Indo-Pak Chambers of Commerce & Industry, Mr. Zakaria Usman, Mr. Muhammad Mansaha Churra and Mr. Mumtaz Sheikh, Vice Presidents, Mr. Zubair F. Tufail, Chairman, Working Group Budget Proposals FPCCI, Mr. Iftikhar Ali Malik, former President FPCCI, Mr. Shakil Dingra and Members Executive Committee of FPCCI. Mr. Anjum Nisar represented the Lahore Chamber of Commerce & Industry (LCCI).