ISLAMABAD: Finance Minister, Senator Muhammad Ishaq Dar Friday directed Federal Board of Revenue (FBR) authorities to make all possible efforts to achieve the revenue target for fiscal year 2014-15.
Finance Minister stated this while presiding over a meeting with FBR officials to seek an update on the state of revenue collection. The minister also chaired a separate meeting here to review implementation status of the budget initiatives 2014-15.
The minister was informed that most of the 33 initiatives had been fully implemented while progress of various degrees had been achieved on some.
Some of the initiatives included formation of Tax Reforms Commission, reduction in markup rates of Exports Re-finance Facility (ERF), reduction in markup rates of Long-Term Finance Facility, Sales Tax Refund, establishment of tele centres, reimbursement of Crop Loan Insurance Scheme (CLIS) Premium, establishment of Exim Bank, LNG import, revival and restructuring of House Building Finance Company Limited etc.
The minister, while expressing satisfaction on the implementation status of the 2014-15 budget initiatives, directed the officials concerned to ensure their state of preparedness for launching the credit scheme for small farmers as early as possible.
He also issued instructions for a meeting to review the recommendations by the Tax Reforms Commission. He said that it was his desire to see the exercise undertaken by the commission reflected in the budget 2015-16.
