Miftah offers out-of-court settlement in FBR cases

IMF combines seventh, eighth tranches for Pakistan through MEFP: Miftah

ISLAMABAD, Jun 11 (APP):Minister for Finance and Revenue Miftah Ismail on Saturday gave an open offer to all litigant businessmen to withdraw their cases as the government was ready for the out-of-court settlement under its ease-of-doing-business measure.

“It is my offer to all businessmen of Pakistan and institutions that the government is ready to withdraw all cases pending in FBR (Federal Board of Revenue) and courts if they too are ready for it.

Let us sit together in the ADRC and resolve them within 2-3 months,” the minister said while responding to a question during the post-budget news conference.

He said it was not for the FBR revenue, but an ease-of-doing-business measure, adding that “if it is the legitimate right of any businessman and we are at fault, we will return the money. If it is our right, the money should be with us.”

Commenting on the appointment of the head of the Alternate Dispute Resolution Council (ADRC) and the mechanism of cases’ disposal, the finance minister said the one person each would be selected by the ADRC and FBR, and both referees would choose the third one called ‘umpire.’

And the decision of two would be honoured in the dispute resolution, he explained terming it a ‘significant change in the dispute resolution mechanism.