KCCI slams FBR decision

KARACHI: Karachi Chamber of Commerce & Industry (KCCI) on Tuesday expressed concerns over a government decision to revoke a rule that made Federal Board of Revenue (FBR) mandatory to warn defaulters 24 hours before freezing their bank accounts.

“This act will open up a floodgate of corruption as it would provide yet another tool to FBR officials to harass the business community,” Muhammad Idrees president KCCI said in a statement.

“We, the business community of Karachi, reject FBR’s decision with a fervent appeal to Prime Minister Imran Khan and finance minister Shaukat Tarin to refrain FBR from taking this anti business as it is going to prove counterproductive to all the efforts being made by the government for ease of doing business,” he added.

Idress lamented that at a time when business confidence had just started to revive, FBR backtracked all the measures taken towards creating a conducive business environment.

“The business and industrial community strongly condemns this move based on the fact that this notification was issued after a very detailed deliberation with the then chairman FBR Shabbar Zaidi,” he pointed.