Islamabad:Former Chairman Federal Board of Revenue (FBR) Shabar Zaid has said that closure of Rs 5000 note is the first treatment to fix the economy.
Shabbar Zaidi said that as the former FBR Chairman he tried to implement track and trace mechanism on seven industries which included cigerrate and cement but we failed to do so.
He said that as many as 120 to 150 billion dollars are in froiegn banks abroad belonging to Pakistanis while these Pakistanis are belonged to business community and people who are working on influential positions in various institution.
The former FBR chairman said that no company of Pakistani politicians are listed except Jehangir Tareen adding this impression is very common that doing buisness as a listed company then the tax rates will be charged higher causing difficluties while as a personal buisness there is no any such problems.He declared this thinking wrong.
He said that doing buisness legally in Pakistan is difficult adding that such policies were formed which promoted unorganized buisness.
