Change in economic team welcomed

ISLAMABAD: The Rawalpindi Islamabad Tax Bar Association (RITBA) has welcomed the decision of the government to appoint experts to head the State Bank of Pakistan (SBP) and the Federal Board of Revenue (FBR).

The decision to appoint technically sound experts would have a very positive impact on the economy, said Syed Tauqeer Bukhari, president of RITBA, a statement said on Monday. The association extended its full support to the new management of the central bank and FBR, he added.

SBP Governor Raza Baqir was an experienced and internationally admired economist whose appointment would go down well with the international financial institutions and global debt market, he said. The FBR was facing a revenue shortfall, Bukhari said, and expressed the hope that the new chairman had the ability to improve the situation, as he would have the cooperation of FBR staff, tax consultants and the business community.