PM Imran okays ‘Roshan Digital Account’ for expats

Imran directs FBR to pay special attention to automation in tax assessment, collection, refunds

ISLAMABAD:

Prime Minister Imran Khan on Thursday directed the Federal Board of Revenue (FBR) to pay special attention to automation in the tax assessment, collection and refunds and take effective steps to check cross-border smuggling.

Chairing meetings on various sectors of economy, the prime minister approved the initiative to introduce ‘Roshan Digital Account’ for the overseas Pakistanis. He said that the State Bank of Pakistan (SBP) had been empowered to provide immediate subsidy on house loans.

Imran chaired a review meeting on the ongoing reforms in the FBR, a briefing on the Roshan Digital Account and the facilities available under it, and the weekly meeting of the National Coordination Committee (NCC) on Housing, Construction and Development.

The prime minister received a briefing from the FBR chairman on the ongoing reforms in the country’s top revenue collecting authority. These reforms are aimed at ensuring transparency, simplifying tax system, introducing automation, increasing the tax base and facilitating the business community.

Addressing the meeting, the prime minister said that promotion of tax culture, creation of facilities for taxpayers, removal of reservations of the business community and cleansing the FBR of corrupt elements were the top priorities of the incumbent government.

He directed that special attention should be paid to automation in the process of tax assessment, collection and refunds. In this regard, he also directed that the tax form should be simplified on a priority basis for individuals, companies and especially the small and medium enterprises (SMEs).

Imran called for setting timelines for achieving the FBR targets. Stressing the importance of effective measures to curb cross-border smuggling, the prime minister directed the FBR chairman to make arrangements for effective surveillance at all crossing points along the border.

In another meeting, the prime minister was informed that the SBP was set to launch the Roshan Digital Account in the first week of September in collaboration with eight major banks of the country. The initiative would enable the overseas Pakistanis to open accounts in any bank of the country easily.

Prime Minister Imran appreciated the initiative of the SBP governor and the participating private banks to provide overseas Pakistanis with various facilities, including remittances, bill payment and investment.

Meanwhile, chairing the NCC meeting on construction, Imran said that the government has addressed the reservations of banks, as the SBP had been empowered to provide immediate subsidy announced by the government on house loans given by banks.

The prime minister told the meeting that the issue of foreclosure laws was being pursued effectively. He directed the banks to simplify the applications for construction of houses so that the low- and middle-income people could avail this facility to the maximum.

Briefing the prime minister earlier, the president of the Pakistan Banks Association said that favourable policies for the promotion of construction had encouraged the private banks and they were committed to promoting construction, especially to low- and middle-income people.

On the occasion, the presidents of the Bank of Punjab and the Al-Falah Bank briefed the prime minister about the products to be introduced for the promotion of housing construction under the New Pakistan Housing Programme.

Expressing satisfaction over the commitment of the banks to play a dynamic role in the construction sector, Imran said that the development of the construction sector would create a number of lucrative business opportunities for the banks.