Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb chaired a meeting of the Economic Coordination Committee (ECC) of the Cabinet held at Finance Division on Tuesday.
The ECC took up five separate summaries submitted by the Federal Board of Revenue (FBR) as part of the FBR Transformation Plan earlier approved by the Prime Minister. The subject matters covered under the summaries included the following five key areas.
The ECC had a detailed discussion on all five proposals submitted by the FBR and accorded them a principled approval with the proviso that a third-party impact evaluation of the processes and KPIs proposed under the proposals would be conducted before the next financial budget, while a similar impact evaluation of the outcomes in line with the KPIs to be drawn up under the proposals, would be carried out at the end of calendar year 2025 to see the merit of the entire exercise and its impact on the overall goal of enhanced revenue generation and resource mobilization.
The ECC also decided that the Revenue Division and Finance Division would work out the mechanics, including allocation and release of budgets, under the five proposals, through joint consultation.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan