NAB not to pursue sales, income tax cases against businessmen

Published: August 23, 2019
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Assurance comes after Law Minister Farogh Naseem announced to amend NAB laws to curtail its powers. PHOTO: APP/FILE

Assurance comes after Law Minister Farogh Naseem announced to amend NAB laws to curtail its powers. PHOTO: APP/FILE

ISLAMABAD: The National Accountability Bureau (NAB) will not pursue sales and income tax related cases against the business community and existing ones would be transferred to the Federal Board of Revenue (FBR), announced NAB Chairman Justice (retd) Javed Iqbal on Friday.

The development comes two days after Law Minister Farogh Naseem had announced that laws would be amended to strip NAB of the powers to take action against private individuals – particularly the business fraternity.

PM’s Information Adviser Dr Firdous Ashiq Awan, while addressing a news conference on Tuesday, said that in view of apprehensions of the business community against the graft watchdog, the federal cabinet discussed how the practice of arm-twisting and threatening of businessmen by some elements in NAB officials can be halted.

NAB to lose power to act against businesses

Speaking to a delegation of the business community, the NAB chief said that the business community is backbone of the country and the anti-corruption watchdog acknowledged their services in progress and prosperity of the nation.

NAB is a business and human friendly institution which accords priority in resolving issues of the business community, said Justice Javed while assuring the traders fraternity that they should not perturb over future actions of anti-graft body.

“Businessmen who are striving for betterment of the country’s economy and providing employment opportunities to hundreds of labours will not be harassed,” he added.

The action, the graft buster head said, is being taken against owners of private housing societies who had looted life earnings of the common people as some societies have not provided plots and amount to the poor and NAB is striving hard to recover the looted money.

Special desk has been established at NAB headquarters to address issues of the business community and the bureau would protect the interest of the country and traders who prefer the country’s interest instead of personal interests, he added.

The country is under the billion of dollars debt and the borrowed amount was not spent on betterment of people, said Justice Javed, adding “NAB is duty bound to make accountable those who plundered the country’s wealth.”

He went on to say that the prime objective of NAB is to improve the weak economy and recover billions of looted money to protect the interests of all segments of the society.

With additional input from APP

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