Restructuring tax system better than punitive measures: NAB Chairman

ISLAMABAD  -  National Accountabil­ity Bureau (NAB) Chair­man Lt- Gen (retired) Nazir Ahmed said Sat­urday that the bureau has recovered an im­pressive amount of Rs. 2.3 trillion and generat­ed over US $10 billion in savings for the national exchequer.

Speaking at an event on Saturday at NAB Headquarters in Islam­abad, commemorating “International Anti-Cor­ruption Day” with the theme “Documented Economy Curbs Corrup­tion,” he emphasised that combating corrup­tion requires collective effort. NAB is dedicated to ensuring that every instance of corruption faces consequences. Na­zir Ahmed emphasised that the eradication of corruption requires col­lective efforts from all stakeholders, as no sin­gle institution can accom­plish this task alone. He reaffirmed NAB’s com­mitment to ensuring that every instance of corrup­tion faces consequences. The Chairman asserted that the documentation of the economy will un­doubtedly benefit the country and significant­ly reduce corruption. He reiterated NAB’s com­mitment to fulfilling the obligations outlined in the United Nations Con­vention against Corrup­tion (UNCAC). Prominent economist and Direc­tor General of NUST In­stitute of Policy Stud­ies (NIPS) Dr Ashfaque Hasan Khan and Country Representative of United Nations Office on Drugs & Crime (UNODC) Paki­stan Jermey Milsom, at­tended the event as guest speakers. Dr Ashfaque Hassan Khan, in his key­note speech, stated that it is the responsibili­ty of every citizen to get registered in the taxa­tion system so that they can get welfare benefits from the State. He men­tioned that individuals in the informal/unregis­tered economy often ex­perience poverty due to a lack of access to bank­ing incentives, including loans. He stressed that restructuring the tax sys­tem to provide incen­tives would be more ad­vantageous than relying on punitive measures. Earlier,Nauman Aslam, Director General of the Awareness & Prevention (A&P) Division at NAB Headquarters, provided an overview of the signif­icance of observing An­ti-Corruption Day and highlighted the A&P Di­vision’s role in raising awareness about the det­rimental effects of cor­ruption. The Chairman also recognised and hon­ored NAB officers with Merit and appreciation Certificates for their ex­ceptional performance in their respective domains.

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