Government to resolve offshore companies issue thru legal means
ISLAMABAD—Adviser to the Prime Minister on Revenue Haroon Akhtar has said that emergence of off-shore companies was an international phenomenon, however the government was fully determined to tackle within the legal means.
A committee had already been formed with Finance Minister Muhammad Ishaq Dar as its Chairman that is focussing this issue, he said talking to a news channel. He said State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan and Federal Board of Revenue (FBR) are part of the said committee that was fully independent to work.
A separate money bill would also be introduced for thorough discussion on the matter and seek measure to sort it out, he said. Haroon Akhtar said the government is determined to make lawful amendments so that issues like off-shore companies do not surface again.
He said nobody can be allowed to create chaos by playing up the issue of offshore companies and detract foreign investment. The adviser said steps were being taken to broaden tax net besides measures to improve tax collection.
The government was facilitating tax-filers by not putting more burden on them, however strict measures would be taken against non-filers, he said. To a question he said that prices of petroleum products in Pakistan were lowest in the region.—APP