Shabbar Zaidi, the former head of the Federal Board of Revenue (FBR), has voiced the conviction that the nation has gone bankrupt and the government’s statements, that the country is doing extremely well, achieving tremendous success and transforming, are all untrue.
He discussed his opinions during a recent address he made at Hamdard University. But Zaidi afterward turned to Twitter to allege that “just three minutes of his remarks had been cherry-picked” and distributed. He said he spoke about the solution as well.
Using the accounting phrase “going concerned” as a point of reference for the audience (which presupposes that an organization has no intentions to liquidate or decrease the extent of its activities in any meaningful manner, according to ACCA Thinkhead), Zaidi said that he thinks the government is now insolvent.
Zaidi went on to say that it is preferable to recognize that a country’s economy has collapsed and seek answers rather than mislead the public by stating that everything is OK.
However, in a series of tweets, Zaidi emphasised that his statements had been misinterpreted and taken out of context. While acknowledging that there are difficulties of bankruptcy and continuing concern, Zaidi emphasized the need of looking at the remedy as well.
— SyedShabbarZaidi (@SShabbarZaidi)
“What I stated was based on fact and conviction. I only want to emphasize that the whole speech should be read and listened to “He expressed himself on Twitter.
Zaidi was the head of the Federal Board of Revenue (FBR) in Prime Minister Imran Khan’s cabinet from May 10, 2019 until April 8, 2020.