ISLAMABAD    -    Federal Minister of State for Finance and Revenue Ayesha Ghous Pasha on Tuesday said that Pakistan has neither defaulted nor it would be as talks with the International Mone­tary Fund (IMF) have entered into a final stage.

Talking to media here, she said that one of the reasons behind Pa­kistan’s current economic situation is international situation. She fur­ther said that people should dispel the rumours about the country’s de­fault. She claimed that the govern­ment is following a strategy to steer the country out of the economic cri­sis and soon there would be stability on economic front. The parliament has already passed the mini bud­get, which was one of the prior con­ditions of the IMF. She said that the government has retained the subsidy on electricity and gas for the poor af­ter withdrawing it for the elite class.

Earlier, Senate Standing Committee on Finance and Revenue in its meet­ing here urged the Federal Board of Revenue (FBR) to seek speedy dis­posal of cases by the FBR before var­ious court specifically those bringing significant revenue to the country. The committee was apprised that a total of 76,349 pending litigation cases Inland Revenue service till 31-12-2022 out of which 63,655 cas­es are of the appellate Tribunal In­land Revenue. The FBR informed the committee that they are trying to ap­proach the secretary and Minister Law for record of these cases.

During the meeting, the Chairman FBR informed the committee that back to back meeting with the chief Justice Lahore High Court and Chief Justice Islamabad High court are be­ing conducted and making all efforts to liquidate its pendency. 

Mandviwalla said that the Customs Operation wing has already set up Al­ternate Dispute Resolution (ADRCs) mechanism for quick and amicable disposal of pending litigation cas­es and settlement should be made through ADRCs’ the committee also suggested if cases can be resolved outside court. The chairman commit­tee said that there is difference be­tween tax evasion and AMLA and fail­ing to response cannot fall under the category of money laundering. He compelled the FBR to avoid bundling up cases under the AMLA act hamper­ing the business community to trade he also put special emphasis on keep­ing a close check on pending cases in different fora for early disposal and discourage frivolous litigation.