KARACHI: Federal Finance Minister, Senator Ishaq Dar has said the entire mainstream Federal Board of Revenue (FBR) team had been replaced and well reputed officers were posted with a view to streamline the affairs of the revenue body.

”A new Chairman of the Board as well as key members have been appointed strictly on merit and I hope they will deliver as per expectations,” Ishaq Dar said while speaking at Karachi Stock Exchange on Wednesday.

Dar said Chairman FBR Nisar Muhammad Khan was an honest officer while Members Customs, Member IR-Policy, Member IR-Operations and Member Admin were also seasoned officers and this new team would bring further improvement in the affairs of FBR.

This new team headed by Nisar Muhammad Khan would overcome all the challenges and would promote good governance as well as transparency.

“PML-N government believes in dedication, commitment, professionalism and most importantly merit,” Dar said adding the efforts and competence is also recognized and appreciated.

Ishaq Dar also appreciated the efforts of outgoing Chairman FBR Tariq Bajwa. Federal Finance Minister said it was due to the efforts and commitment of Tariq Bajwa that revenue collection surged by 33 percent in two years.

Bajwa has now been promoted in Grade-22 and since he wished to remain under the umbrella of Finance Minister, he has been posted as Secretary Economic Affairs Division.

Dar said tax revenues were increasing, which is due to increase in the number of taxpayers. “The number of tax assessees has crossed one million mark which was 0.7 million in 2013.”

Senator Ishaq Dar said the economic fundamentals were improving and all the international institutions and rating agencies were recognizing Pakistan as a stable country.

“Economic stability of Pakistan is our prime concern,” he said adding politics should be separated from economy.