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    Business community slams FBR, FIA over investor harassment

    Latest April 28, 20250 Views
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    Business community slams FBR, FIA over investor harassment
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    Business community slams FBR, FIA over investor harassment

    ISLAMABAD: Members of the business community and officials from ministries linked to economic activities on Monday strongly criticized the Federal Board of Revenue (FBR) and the Federal Investigation Agency (FIA) for what they termed as undue harassment of investors.

    As per details the criticism surfaced during a high-level meeting of the Committee constituted by the Prime Minister to prevent undue interference by state functionaries. The meeting was chaired by Special Assistant to the Prime Minister on Revenue, Haroon Akhtar Khan.

    Focused on addressing the challenges faced by industrialists and investors, the meeting saw business leaders express serious concerns over unnecessary interventions by the FBR, FIA, and provincial departments.
    The session was attended by representatives of major chambers of commerce and industry from across the country, along with officials from the ministries of commerce, industries and production, and finance.

    A key issue highlighted by the business community was the lack of Business Facilitation Centres and the absence of an efficient one-window operation system nationwide.

    Haroon Akhtar Khan stressed that, in line with the Prime Minister’s vision, facilitating industrialists and investors was crucial to accelerating economic activities. He warned that undue interference by state institutions could severely damage investment prospects and hinder economic growth.

    The committee, recently established following complaints by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) against provincial departments, income tax officials, customs authorities, and the FIA, is tasked with devising a strategy to curb bureaucratic overreach. Mr. Khan was appointed its chairperson to coordinate efforts among stakeholders and recommend solutions.

    The business community demanded swift digitisation of regulatory processes to minimize human interactions and eliminate discretionary powers that often lead to exploitation.

    While responding to the complaints, FBR officials claimed that reforms were underway, and a digital complaint mechanism was being developed. FIA officials outlined their legal responsibilities, but Haroon Akhtar Khan interrupted, noting that ground realities painted a different picture, with persistent complaints of undue interference in business matters.

    He emphasized that establishing Business Facilitation Centres, promoting ease of doing business, and developing supportive industrial policies were essential for the revival and sustainable growth of Pakistan’s industrial sector.

    The meeting concluded with the formation of several sub-committees tasked with collecting data on complaints against various government departments, aiming to identify systemic issues and propose actionable reforms.

     

     

    The post Business community slams FBR, FIA over investor harassment appeared first on Profit by Pakistan Today.

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