PR No. 242 Finance Minister Chairs Meeting To Review Fiscal Targets Islamabad: December 28, 2015

Finance Minister, Senator Mohammad Ishaq Dar chaired a meeting to review the fiscal and revenue targets and measures for broadening of tax base, here on Monday. Senior officials of the Ministry of Finance and Federal Board of Revenue participated in the meeting.

The meeting was apprised of the status of expenditure during the second quarter of the financial year. It was noted that the expenditures during the first 5 months were broadly in line with the fiscal targets, while every effort was being made to meet the end December target. Finance Minister expressed satisfaction on the fiscal situation and directed that it must be ensured that fiscal limits are strictly adhered to.

Chairman FBR informed the meeting that revenue collection upto November 2015 and the first three weeks of December was satisfactory and FBR would be able to achieve the revenue target for December 2015.

The minister was also briefed on the steps being taken by FBR for broadening the tax net, facilitation of the tax payers and simplification in the procedures for filing tax returns. The Minister was given a detailed briefing on the draft Voluntary Tax Compliance Scheme prepared by FBR following a series of meetings and negotiations with the representatives of traders from all over the country. The Scheme is an important element of FBR’s efforts for broadening of tax base. The Minister issued directions to FBR for introducing further improvements in the scheme so as to attract maximum number of new tax payers and achieve the aim of broadening of tax base.

SAPM on Revenue, Haroon Akhtar Khan, Secretary Finance, Dr. Waqar Masood Khan, Chairman FBR, Nisar Mohammad Khan and other senior officials attended the meeting.