Last Updated on Tuesday, 30 November 1999 05:00 Friday, 26 August 2011 10:27
ISLAMABAD - The Federal Board of Revenue (FBR) has failed to determine the responsible officials of the tax department involved in much debated revenue collection figures fudging scam of the previous financial year 2010-2011 despite passage of more than one month period, it is learnt.
FBR s revenue collection figures fudging scam came on surface on July 22 and still the government is reluctant to find the responsible officers of the scam, which became one of the reasons of delay in negotiations with the International Monetary Fund (IMF). Pakistan and IMF were scheduled to hold crucial meeting in July for the restoration of suspended standby loan programme wherein the international donor has to release the remaining two tracnhes worth of $3. 4 billion to Islamabad.
It is worth mentioning here Chairman Federal Board of Revenue Salman Siddique on June 30 announced that FBR has exceeded the annual tax collection target of Rs 1,588 billion, as it has achieved Rs 1,590 billion. However, later on July 22, FBR chief revealed that tax department has only collected Rs 1,550 billion during the previous fiscal year.
Prime Minister Yousaf Raza Gilani has directed the Finance Minister Abdul Hafeez Shaikh to conduct inquiry in this regard. However, the Finance Ministry and Federal Board of Revenue have failed so far to find the responsible officials. Finance Secretary Dr Waqar Masood told media that FBR is responsible to conduct the inquiry instead of Finance Ministry.
However, it seems that FBR might not publicise the report of the inquiry, as Chairman Federal Board of Revenue Salman Siddique once said that forget what happened in last fiscal year and concentrate on the revenue collection target of the ongoing financial year 2011-2012.
Due to the said figures fudging scam of the FBR, the government is considering revising all the targets for the ongoing fiscal year and it has already started working on it.
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