ISLAMABAD: Pakistan’s government has refuted recent media reports regarding the World Bank’s withdrawal of tax exemptions, stating that no formal communication has been received from the WB on this issue.
The clarification was made by the Chairman of the Federal Board of Revenue (FBR) and the Additional Secretary of Finance during a briefing to the Senate Standing Committee on the reported news about the WB’s call for Pakistan to eliminate tax exemptions.
Pakistan Taking Measures Against Counterfeit Currency
In relation to counterfeit currency notes, the SBP governor stated that the security features of the notes were being reviewed to prevent counterfeit currency.
He also mentioned the consideration of introducing polymer currency notes in the future due to their enhanced security and longer lifespan. Polymer notes had been procured from abroad, as Pakistan currently lacked the capacity for their production.
The committee additionally suggested that non-custom paid vehicles seized across the country be auctioned through the FBR.
