Shabbar Zaidi briefs ISI on export-oriented sectors

[Norwegian]

Shabbar Zaidi briefs ISI on export-oriented sectors
Top Story
Mehtab Haider
July 24, 2019

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ISLAMABAD: The Federal Board of Revenue (FBR) has assured the top spy agency of the country that the rules for release of sales tax refunds would be issued on Wednesday (today) and there would be no liquidity crunch for export-oriented sectors during the current fiscal year.

FBR Chairman Shabbar Zaidi along with his team on Tuesday visited the headquarters of the Inter-Services Intelligence (ISI) and extended briefing on abolishing the zero-rating regime for five export oriented sectors, including textile, through the budget 2019-20.

The FBR has been assigned to achieve highly ambitious tax collection target of Rs5,550 billion for the current fiscal year against revised provisional estimates of Rs3,832 billion in last fiscal year 2018-19 that ended on June 30, 2019. For achieving the collection target, the FBR requires growth in revenues to the tune of over 44 percent that had never happened in history of Pakistan.

“We are going to issue rules for release of refunds under new mechanism today (Wednesday),” said Shabbar Zaidi when contacted to seek his comments on Tuesday.

He said that there would be no liquidity crunch for export oriented sector during the current fiscal year as the new rules for issuance of refunds would be placed in order to avoid any delays.

However, the sources said that the refunds mechanism would ensure prompt release of amount in shape of due refunds on receipt of Goods of Declaration (GDs) at time of export proceeds. If the FBR could not manage the refunds mechanism effectively then the whole scheme of doing away with zero rating regime for export oriented sectors could face a major blow to the economy as well as tax collection system of the country
https://www.thenews.com.pk/print/502725-shabbar-zaidi-briefs-isi-on-export-oriented-sectors

 

[Norwegian]

@Dubious @Path-Finder @PakSword @BHarwana @Nilgiri @Indus Pakistan @ziaulislam

 

[Path-Finder]

here is an idea why doesn't ISI have a monitoring sections of money being transferred out of country and being transferred into the country. It will be a great help.

 

[Chakar The Great]

Lol what a joke.

 

[Goenitz]

Army should have groups of economist, legal advisers, commerce people and foreign language writers/journalists.. also make it etc also make movies/dramas/songs regularly.. etc

 

[Cash GK]

Shabbar Zaidi briefs ISI on export-oriented sectors
Top Story
Mehtab Haider
July 24, 2019

• 

Listen

ISLAMABAD: The Federal Board of Revenue (FBR) has assured the top spy agency of the country that the rules for release of sales tax refunds would be issued on Wednesday (today) and there would be no liquidity crunch for export-oriented sectors during the current fiscal year.

FBR Chairman Shabbar Zaidi along with his team on Tuesday visited the headquarters of the Inter-Services Intelligence (ISI) and extended briefing on abolishing the zero-rating regime for five export oriented sectors, including textile, through the budget 2019-20.

The FBR has been assigned to achieve highly ambitious tax collection target of Rs5,550 billion for the current fiscal year against revised provisional estimates of Rs3,832 billion in last fiscal year 2018-19 that ended on June 30, 2019. For achieving the collection target, the FBR requires growth in revenues to the tune of over 44 percent that had never happened in history of Pakistan.

“We are going to issue rules for release of refunds under new mechanism today (Wednesday),” said Shabbar Zaidi when contacted to seek his comments on Tuesday.

He said that there would be no liquidity crunch for export oriented sector during the current fiscal year as the new rules for issuance of refunds would be placed in order to avoid any delays.

However, the sources said that the refunds mechanism would ensure prompt release of amount in shape of due refunds on receipt of Goods of Declaration (GDs) at time of export proceeds. If the FBR could not manage the refunds mechanism effectively then the whole scheme of doing away with zero rating regime for export oriented sectors could face a major blow to the economy as well as tax collection system of the country
https://www.thenews.com.pk/print/502725-shabbar-zaidi-briefs-isi-on-export-oriented-sectors

Very good

 

[Baghial]

here is an idea why doesn't ISI have a monitoring sections of money being transferred out of country and being transferred into the country. It will be a great help.

they all ready have such a mechanism in place ------

but just for generail shahib to transfer money safe out of pakistan...........

not for public ...........

 

[zulu]

@ps3linux Shabbar Zaidi facing the same torture which u did with that brigadier

 

[Baghial]

Army should have groups of economist, legal advisers, commerce people and foreign language writers/journalists.. also make it etc also make movies/dramas/songs regularly.. etc

they dont hire people with higher IQ than 10....

 

[AMG_12]

here is an idea why doesn't ISI have a monitoring sections of money being transferred out of country and being transferred into the country. It will be a great help.

They do have a monitoring section on monetary affairs. It's just that the concerned authorities are too incompetent to take appropriate actions against those involved.

 

[Norwegian]

They do have a monitoring section on monetary affairs. It's just that the concerned authorities are too incompetent to take appropriate actions against those involved.

In fact it was ISI that caught money laundering network of Nawaz Sharif and Zardari

 

[Indus Pakistan]

For achieving the collection target, the FBR requires growth in revenues to the tune of over 44 percent that had never happened in history of Pakistan.

To achieve this the country must be placed on war footing. Every organ of the state including the military must be used. National emerency should be declared for 6 months during which exceptional measures need adopting including turfing and accounting the 'lifafa media'. Sometimes only solution to stop the rot is surgery.

By the way this need not having been reported to media but it looks like it was intentionaly announced [FBR chief could easily have a inhouse meeting with ISI] which makes me think it is intended to send the message as to how serious they are.

@Mangus Ortus Novem

Maybe it is time to raise another 100,000 men in a Jandarma type force. Much as in Turkey and other European countries soldiers are seconded on other duties -

• Education divisions raised ~ posted to remote locations to teach children helping to increase literacy %
• posted to teach basic hygenie to villages
• posted to cities to help clean the mess
• posted to rural areas with high crime rates to reduce lawlessness.

 

[ps3linux]

@ps3linux Shabbar Zaidi facing the same torture which u did with that brigadier

What I understand is that even Army has started to evolve, instead of their own fixed point of views they are now inclined towards listening to subject matter experts, they learn something or not is another matter.

Oh sorry, it was inter services well these guys are good, highly intelligent so taking my words back there are serious issues with our exports/imports don't want to talk more on it. It is good that inter services people understand issues which could arise from imports/exports.

 

[TechMan]

Is this news real? What does ISI has to do with export?

 

[newb3e]

isi planning to export Brand Dha to outside world?