Federal cabinet fails to reach agreement on assets amnesty scheme

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ISLAMABAD: The federal cabinet has failed to reach an agreement on the Asset Declaration scheme, on Wednesday.

A meeting of the federal cabinet chaired by Prime Minister Imran Khan was held to reach a consensus on the Asset Declaration scheme regarding undisclosed assets.

Members of the federal cabinet had reservations about the amnesty scheme, according to a report in Geo TV.

The majority of the members, according to the Geo TV report, advised the prime minister to take the nation into confidence before introducing the scheme.

The cabinet members expressed strong reservations over the FBR’s actions, claiming that they were creating uncertainty in the market.

Participants of the meeting advised the prime minister that an amnesty scheme under the current political climate would not be successful.

Some members suggested that action should be taken against tax evaders rather than an amnesty scheme be announced for those with undeclared assets.

As per the report, Finance Minister Asad Umar tried to placate the concerns of the ministers by informing them that it takes time to implement structural changes in the FBR and that an amnesty was the way forward.

Prime Minister Imran Khan said that he would take a decision in the next cabinet session where the members will advise him further.

Cabinet members had also disagreed on the assets amnesty scheme in a meeting on Tuesday. Members are divided on the political climate of the decision as some think that it would damage the image of the party.