In a significant development, the Pakistan Business Council (PBC) has expressed its support for the caretaker government’s decision to bifurcate the Federal Board of Revenue (FBR) and the Customs Department. This move, aimed at enhancing efficiency and streamlining operations, has garnered approval from the business community.
The PBC, a prominent voice for the business sector, acknowledges the potential benefits of this strategic decision. The decision to separate the FBR and the Customs Department is anticipated to pave the way for a more focused and specialized approach in handling taxation and customs-related matters.
This development comes at a crucial juncture, as Pakistan seeks to revamp its economic landscape and address longstanding challenges in revenue collection and customs administration. The PBC believes that the division will contribute to better governance and improved performance, ultimately fostering a business-friendly environment.
The business community, long advocating for reforms in taxation and customs procedures, sees this decision as a positive step towards creating a more transparent and responsive system. The PBC emphasizes the need for continuous collaboration between the divided entities to ensure seamless coordination and effective communication.
Furthermore, the PBC encourages the caretaker government to consider stakeholder input during the implementation process. Engaging with the business community and other relevant stakeholders will help in refining the restructuring plan, ensuring that it aligns with the broader goal of economic growth and development.
While challenges may arise during the transition, the PBC remains optimistic about the long-term positive impact of this decision. It underscores the importance of a proactive and adaptive approach to address any teething issues that may emerge.
In conclusion, the PBC stands firmly behind the caretaker government’s initiative to split the FBR and the Customs Department, viewing it as a pivotal move towards creating a more efficient and responsive taxation and customs framework. As Pakistan charts its course towards economic progress, the PBC remains committed to supporting measures that promote transparency, accountability, and business-friendly practices.
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