In a pivotal move, Pakistan’s caretaker government has established an eight-member committee dedicated to spearheading the Federal Board of Revenue’s (FBR) restructuring, focusing on asset distribution and implementation strategies.
Led by the Finance and Revenue Minister, the newly formed committee boasts a roster of eminent personalities including the Secretary of Law and Justice, Dr. Musharraf R. Cyan, among others, tasked with guiding the FBR towards a transformative phase.
Outlined by the Ministry of Finance, the committee’s mission encapsulates a dozen critical tasks that span legal frameworks, human resources management, and the crafting of policies to bolster operational autonomy and accountability within the FBR.
Key objectives include the drafting of legal instruments to reflect the separation of tax policy from administration, ensuring equitable asset and human resource distribution among successor entities, and fostering a streamlined tax collection mechanism.
To effectively manage the breadth of responsibilities, the committee will oversee subcommittees concentrating on legal matters, and administration, each playing a crucial role in the redesign and enactment of essential reforms.
This committee is charged with ensuring that the restructuring does not hinder the FBR’s operational capabilities or tax collection efforts, aiming for minimal disruption during this period of change. The finance minister will serve as the ultimate arbitrator for any issues that emerge throughout the restructuring process.
This initiative marks a significant step towards modernizing the FBR, positioning it for improved efficiency and responsiveness within Pakistan’s tax system.