ISLAMABAD: Prime Minister Imran Khan is considering to make two key appointments, including Adviser to PM on Revenues and Chairman Federal Board of Revenue (FBR) and decision to this effect may be taken soon, local media reported.
PTI-led government offered Haroon Akhtar Khan to become Adviser to PM on Revenues but so far he had not yet taken his final decision. He might take decision in couple of days but the sources said that he had sought complete independence along with choosing whole top team at FBR, including new FBR chairman of his choice.
There are different names under consideration, including Tariq Pasha, as among the top contenders of this slot. The government is considering key changes into the FBR at a time when the IMF parleys are underway to accomplish the second review under $6 billion Extended Fund Facility (EFF).
The FBR had already revised downward its annual target from Rs5.5 trillion to Rs5.238 trillion and it had become almost impossible that the FBR would be able in achieving its revised target. The FBR cannot go beyond Rs4.7 to Rs4.8 trillion so massive revenue shortfall will be on cards if the IMF does not agree to further reduction in target.
Haroon Akhtar Khan had given presentation to PM few days back and apprised him that the import compression did not impact the revenue collection to the extent claimed by the FBR.
He was of the view that the duty and taxes were collected in rupee and after devaluation the import bill had gone up over Rs7 trillion so the revenue leakages at customs front was causing heavy losses to the national exchequer. Secondly, he had opposed the higher discount rates during that meeting.