ISLAMABAD  -  The federal cabinet yesterday approved the much awaited restructuring and digitization plan of the Pakistan top central tax collection body Federal Board of Revenue (FBR).

The approval was granted on the recommenda­tion of Revenue Division during the cabinet meet­ing held here with Caretaker Prime Minister An­waar-ul-Haq Kakar in the chair. Under the approved reforms, a Federal Tax Policy Board will be constituted in the Revenue Divi­sion. The Board will ensure formu­lation of national tax policy, fixa­tion of revenue targets and liaison with the stakeholders. 

Under the reforms plan, the Fed­eral Finance Minister will be the head of the Federal Tax Policy Board while Federal Secretaries for Finance, Revenue and Trade, Chairman NADRA and experts of the relevant departments will be members of the Board.

Under the plan, Customs and In­land Revenue Departments will be separated and would be led by Di­rectors General of relevant cadres. Both the DGs will be fully autho­rized for institutional, economic and operational matters of their respective department.

They will ensure the imple­mentation of internationally ad­opted measures for digitization, complaint resolutions and trans­parency. There will be separate oversight boards for Inland Reve­nue and Customs. Speaking on the occasion, the Prime Minister in­structed that there should be no clash of interests, while making ap­pointments of experts. He also di­rected to submit the draft summary of reforms to the upcoming elect­ed parliament for necessary leg­islation. However, secretary elec­tion Commission of Pakistan in a letter addressed to the principal secretary to the PM asked to halt the implementation of the FBR re­structuring plan. The letter remind­ed the principal secretary that the job of the caretaker government is to hold general elections 2024 and not the long-term restructuring of ministries and departments. 

PM CALLS FOR CONCERTED EFFORTS TO EXPLORE OIL, GAS RESERVES

Meanwhile, the PM while ad­dressing the Petroleum Confer­ence 2024 as chief guest here affirmed the government’s read­iness to contribute in infrastruc­ture development, logistics, and security to bolster oil exploration and production efforts in Pakistan. 

Chief of Army Staff, General Syed Asim Munir, NI (M) was the guest of honour at the conference.

Provincial Chief Ministers, Min­ister for Energy, Secretary Petro­leum, Government representa­tives, policy makers, foreign and domestic investors from the En­ergy and Petroleum (E&P) sector and international delegates also attended the conference.