Wednesday October 27, 2021

Businessmen’s income, sales tax cases referred to FBR

November 05, 2020

ISLAMABAD: National Accountability Bureau (NAB) Chairman Justice (R) Javed Iqbal Wednesday said that income tax and sales tax cases of the business community have already been referred to the Federal Board of Revenue (FBR).

He said special desks have already been established in NAB headquarters and regional offices to facilitate the business community. “The desks have been directed to resolve businessmen complaints as per rules,” he said.

He said that the NAB is taking action against all those as per laws who remained in government, were untouchables in the past and are now being questioned about their illegal actions, misuse of authority, assets beyond known sources of income, money laundering and loss to national exchequer.

“The NAB is pursuing the cases of the people who were penniless 1980, but today they owned multistory buildings. From where they got the money, especially a bike rider amassed wealth and made towers in Dubai.” He said in a meeting with President Gwadar Chamber of Commerce, Balochistan Mir Naveed Baloch who called on him at NAB headquarters.

Justice (R) Javed Iqbal said the country is indebted up to Rs100 billion and one perturbed where the money had been spent as the economy was in a shambles, no beds in hospitals, students were being denied admissions to universities/colleges.

He said that NAB is making all out efforts to eradicate corruption from the society without caring about powerful and big fish having allegedly unprecedented stories on their credit.

He said that NAB does not take direct action in bank default cases but State Bank refers cases to NAB. “Banks take action against businessmen in case of default,” he said. The NAB chairman said that investigation of white collar crimes is very challenging as the crime is committed in one city and property exists somewhere else but NAB officers are working with the realisation that eradication of corruption from the country is their national duty.

Criticising fake housing societies, he said that the illegal housing societies have plundered the poor persons by posting alluring advertisements despite having no or little land.

The NAB chairman said that NAB had taken notice of alleged corruption and irregularities in the allotment of industrial and commercial plots by Gwadar Industrial Estate Development Authority. “The alleged illegal allotment has caused millions of rupees losses to the national kitty. Gwadar Industrial Estate Development Authority has jeopardized the economic development of the province,” he said. Justice (R) Javed Iqbal said that Gwadar is the gateway of Pakistan’s development and economic development activities in Gwadar will indeed be helpful in the imperative for progress and prosperity of Balochistan as well as Pakistan.

The NAB chairman said that providing legal investment opportunities to keen investors in Gwadar projects is the basic requirement of economic progress in the region.