ISLAMABAD, July 3 (APP): The United Business Group (UBG) of
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Sunday lauded the efforts of Finance Minister Ishaq Dar and his team which has resulted in achievement of tax target for the fiscal year 2015 16.

It also lauded one percent increase in tax to GDP ratio, terming it
an accomplishment and also expressed satisfaction over the forex reserves situation which has crossed 23 billion dollars.

Finance Minister Ishaq Dar, PM’s Special Assistant on Revenue
Haroon Akhtar Khan and FBR Chairman Nisar Muhammad Khan have worked day and night to achieve target of Rs 3,104 billion, which was heartening, said Zubair Tufail, Secretary General UBG in a statement.
He said that those who paid taxes to ensure achievement were
heroes who must be lauded for their services as the trust deficit had been reduced.

Zubair Tufail said that the achievement indicated 20 per cent annual rise in tax collections while forex reserves had touched record level improving economic stability.

He said that Pakistan had reserves worth 6.8 billion dollars in 2013 while the country was on the brink when the incumbent government came to power and Mr. Dar accepted the challenge to bailout economy.

The FBR collected 1.95 trillion in 2013 while the collections had
now surpassed 3.1 trillion which was an achievement that also indicated reduction in trust deficit, he added.

He said that business community would continue to cooperate with FBR and ensure success of tax target of Rs 3621 billion for the year 2016 17 while authorities should try not to burden existing taxpayers, pay respect to them and stop lower staff from harassing the taxpayers.