Bringing reforms in FBR vital for ease of doing business: Razzak Dawood

ISLAMABAD, Mar 1 (APP):Advisor to Prime Minister on Commerce, Textile, and Industry Abdul Razzak Dawood Friday said that the government was reforming the Federal Board of Revenue (FBR) that was pivotal for promoting ease of doing business.
He was chairing a meeting on the customs valuation herd here today.
Member Customs, Dr. Jawad Owais Agha presented various aspects of customs valuation procedure in place and the issues of under invoicing.
It was informed that with the modernization of system, the custom valuation is improving.
The revived tax system can have very positive bearing upon the revival of the industry.

Mr Dawood said that mis-declaration and under invoicing is hitting the local industry and the industry loses its competitiveness with such import.
Such imports would continue to frustrate government’s efforts to make our industry competitive. The focus of the current regime is on supporting investment and industrialization.
The Advisor recognized that customs plays important role in promoting the local industry which contributes in revenue generation.