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Assets declaration scheme’s deadline extended for three days: Hafeez

Assets declaration scheme’s deadline extended for three days: Hafeez
June 30, 2019
ISLAMABAD (92 News) – Adviser to Prime Minister on Finance DrAbdul Hafeez Shaikh on Sunday announced that the federal government has extended the deadline of Asset Declaration Scheme for three more days. Addressing a press conference along with Special Assistant to Prime Minister on Information Firdous Ashiq Awan and Federal Minister for Revenue Hammad Azhar, the adviser has mentioned that the assets declaration scheme is in the final phase and the people can reveal their assets till July 3 otherwise will be punished. “We are extending the deadline of Asset Declaration Scheme by July 3 in the better interest of the people who wanted to gain benefit from the scheme,” he announced after a meeting under the chair of Prime Minister Imran Khan. Abdul Hafeez Shaikh informed that for economic revival $9.2 billion were borrowed from friendly countries China, Saudi Arabia UAE. “An agreement of worth $3 billion was also made with Qatar and has received the first tranche of $500 million,” he said. The finance adviser said that the federal government decided to decrease the total layout of the budget by Rs50 billion. “10 per cent salary was increased only for the grade1-16 employees while 5 per cent salaries increased for Grade 17-20 employees. The adviser congratulated Chief of Army Staff (COAS) General Qamar Javed Bajwa for not increasing the defence expenditure. He also said that the salaries of government employees were slashed by 10 per cent following the austerity drive of the incumbent government. He said that Rs216 billion have been set aside for the electricity consumers using 300 units, adding that fuel prices in Pakistan increase when oil prices go up in the international market. He said the current account deficit is being downed to $7 billion by increasing duty on imports. He said the steps taken in this budget would reduce current account deficit. He added that zero tax for Rs 1650 billion material for industry. He said government is ready to facilitate industrialists if they are agreed to cooperate, adding that they must pay text if goods are being sold in local markets. On the occasion Federal Board of Revenue (FBR) Chairman Shabbar Zaidi said that thousands of people are availing the tax amnesty scheme. “The further details regarding the amnesty scheme would be given in two to three days,” he added. He said that National identity card (NIC) number will convert into National tax number (NTN) after the month of August. Minister of State for Revenue Hammad Azhar said that so far 80,000 people have contacted FBR to get advantage from amnesty scheme. He urged people to get benefit from the tax amnesty scheme whose date has been extended to July 3. Chairman Federal Board of Revenue Shabbar Zaidi has already assured that assets declared through the scheme won’t be used for any other purpose, neither will be presented as evidence in any of the case.
PM hints at extension for Asset Declaration Scheme deadline
Earlier, PM Imran Khan has said that they cannot come out of the quagmire of the loans if they did not pay the taxes.

In an interview on Thursday, he said that the people are afraid of paying the tax for lack of confidence in the Federal Board of Revenue (FBR). “In the next 48 hours, we will bring a programme,” he said.