| Islamabad: Pakistan Prime Minister (PM) Shehbaz Sharif has approved the privatisation of Pakistan International Airlines (PIA) by June 15, along with endorsing the Federal Board of Revenue (FBR) restructuring plan, as claimed in a news article on March 7.
Read: FBR’s new amendment targets steel, tiles sectors in ISB
According to the details, the plan aims to divide PIA into two entities and relocate its substantial debt into a new holding company, contingent upon obtaining no-objection certificates (NOCs) from creditors. PM Sharif also backed restructuring the FBR into two bodies: The Federal Customs Board and the Federal Inland Revenue (IR) Board.
Read: FBR clears PKR 65bn in export refunds
The restructuring plan, initiated by Dr Shamshad Akhtar, involves broad-scope amendments to tax statutes and aims to increase the tax-to-GDP ratio. However, PM Sharif expressed dissatisfaction with involving the National Database Registration Authority (NADRA) in the FBR’s digitisation efforts. |
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