Home »Taxation » Pakistan » FBR chairman urges private banks to provide loans to common people

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  • May 16th, 2017
  • Comments Off on FBR chairman urges private banks to provide loans to common people
Chairman Federal Board of Revenue Dr Muhammad Irshad Khan has urged the private banks to provide more loans to the private sector to promote industrialisation and play a vital role in national uplift. He was addressing an Allied Bank Limited (ABL) seminar on the subject of "Private Sector Credit & Growth in Tax Revenue" at a local hotel.

He further stressed the need of expansion of bank loans to the commoners instead of focusing on big entrepreneurs. He said the common people are big customers of banks world over in terms of bank loans that adds to their income levels as well as revenue collection by their tax machinery. He said the banks are reluctant to provide access to their account holders.

According to him, the FBR has no research centre enabling it to access the data of taxpayers. He said meeting the tax liabilities is a duty of every citizen in the larger interest of the country. Chief Executive Officer of ABL Tahir Hassan Qureshi urged the participants to support the FBR in its efforts to collect taxes. He also pointed out the need of reduction in tax rates and let the people taxes happily.

He said the government should offer incentives to the banking sector for its growth in the country. A review on deposit and withdrawal should be reviewed to encourage banking in Pakistan, he added. Leading tax consultants Dr Ikramul Haq and Ms. Huzaima Bukhari also spoke on the occasion. Among the notables present on the occasion included the CFO ABL Farhan Ullah Khan and Member Reform Commission FBR Masoud Ali Naqvi.



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