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Fueling Economic Growth: Insights from the Reforms and Resource Mobilization Commission’s First Meeting

The Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar, chaired the 1st introductory meeting of the Reforms and Resource Mobilization Commission (RRMC) at the Federal Board of Revenue (FBR) today. The meeting was attended by various dignitaries, including Mr. Tariq Mehmood Pasha, SAPM on Revenue, Mr. Asim Ahmad, Chairman FBR, and Mr. Ashfaq Yousuf Tola, Chairman RRMC.

Determined to Set Economy on Right Track

The Finance Minister extended a warm welcome to the Commission members and shed light on the country’s economic and financial outlook. Despite inheriting a weak economic legacy from the previous government, he expressed the government’s resolve to steer the economy towards the right direction by implementing reforms in various sectors, aimed at achieving economic stability and growth.

Importance of the Commission

Senator Ishaq Dar underlined the crucial role of the Reforms and Resource Mobilization Commission in identifying challenges and deficiencies in the current taxation system. He proposed that the commission should recommend reforms in the prevailing revenue policies to facilitate resource mobilization and improve the ease of doing business, ultimately leading to sustainable economic growth.

Fast Track Activity of the Commission

The Finance Minister extended his best wishes and expressed his support for the Commission’s efforts. He urged the members to put forth their best efforts to expedite the commission’s activities aimed at introducing tax reforms to enhance financial and economic stability while improving revenue generation.

Formation and Responsibilities of the Commission

Mr. Ashfaq Yousuf Tola, the Chairman of the RRMC, provided an overview of the commission’s formation and responsibilities during the meeting. He assured the attendees of their complete cooperation to fulfill the commission’s mandate as soon as possible for the betterment and progress of the country.

Virtual Attendance of Meeting

The meeting was attended by various members in person, including Dr. Mohammad Iqbal, Mr. Abdul Hameed Memon, Dr. Veqar Ahmed, Mr. Ghazanfar Bilour, Mr. Ardsher Saleem Tariq, and Mr. Tauqeer Ahmed. Rana Munir Hussain, President Pakistan Tax Bar Association, President of FPCCI, Mr. Irfan Iqbal Sheikh, Mr. Asif Haroon, Mr. Haider Ali Patel, Mr. Abdul Qadir Memon, and Mr. Ziad Bashir, attended the meeting virtually through Zoom.

In conclusion, the introductory meeting of the Reforms and Resource Mobilization Commission was successful in setting the stage for identifying issues and difficulties in the existing taxation system. With the cooperation of all members, the Commission can introduce tax reforms that will enhance the financial and economic stability of the country, thereby achieving sustainable growth.

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