Modify, refine Asset Declaration Scheme: Hafeez Shaikh tells FBR

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ISLAMABAD: PM’s Adviser on Finance and Economic Affairs Dr. Abdul Hafeez Shaikh on Tuesday directed the Federal Board of Revenue to modify and refine the Asset Declaration Scheme to make it more attractive and persuasive.

The meeting deliberated upon various aspects of the scheme and emphasized the need to make it more simple and implementable, a government release said.

The participants gave their inputs and suggested that since the focus of proposed scheme is on documentation of economy, it should be designed to clearly reflect that objective.

The adviser directed FBR to modify and refine the scheme by making it more attractive and persuasive so as maximum people, who are currently outside the formal economy, are able to become a part of it.

He gave directions to FBR to devise a successful communication strategy enabling the people to easily comprehend the contours of the scheme.

It may be recalled that the Federal Cabinet had directed the FBR to carry out consultations with experts of various sectors to make the scheme more inclusive and to reduce its complications.

The meeting was also attended by Adviser to Prime Minister on Commerce, Textile, Industry & Production and Investment, Abdul Razak Dawood, Adviser on Institutional Reforms and Austerity, Dr. Ishrat Hussain, Minister of State for Revenue, Muhammad Hammad Azhar, Chairman, FBR and experts of business, accounting and banking sectors.