KARACHI: The National Accountability Bureau (NAB) has voted to refer cases of under-invoicing to the Federal Board of Revenue (FBR) by the corporate community, Javed Iqbal, president of the watchdog Justice (retired), said on Tuesday.
NAB had referred sales tax and income tax cases to the FBR last year the chairman cited a press release released by the bureau as saying.
Speaking to a delegation at the NAB Headquarters of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) headed by its vice-president, Sheikh Sultan Rehman, Justice Iqbal said that the office was giving top priority to solving business community problems.
He said that in bogus housing projects where there was no land to sell, the bureau would use all available capital to refund the stolen money of gullible investors.
As per statute, NAB fully believes in the rational conclusion of cases of money laundering, and the cases of all those who fled abroad after devouring millions of rupees, he said.
At the NAB headquarters and regional offices, Special Complaint Cells led by the respective directors were also formed to hear complaints from the business community.
He said NAB had also set up a high-power committee to address business community problems, and a meeting will be called during this month in this respect.
The FPCCI delegation noted, according to the NAB press release, that the watchdog was a business-friendly organisation engaged in removing corruption from the region, a shared aim for any Pakistani.
The corporate group promised NAB of total cooperation and encouraged fellow businesses not to fear because of the watchdog’s steps.
The FPCCI delegation said NAB notices of under-invoicing, FBR grievances and private deals were causing fear and confusion in the current trade and industry situation.
NAB must be accountable, but sending warnings to private entities participating in the business world, manufacturing and trade is equal to halting business community activity and causing fear and confusion, the delegation said.
In the meantime, a press release released by the FPCCI stated that Chairman NAB had issued on-the-spot directions and directives about the delegation’s grievances and had terminated, in private cases, the under-invoicing and the notices issued by the FBR.
He further stated that if such notices are available to the FPCCI, they need to be brought to his knowledge so that they can be terminated.
Justice Iqbal said that trade and investment would not be obstructed and further instructed his office not to harass the business community.
Haji Ghulam Ali, Zakaria Usman, Nasir Hayat Maggo, and Shahzaib Akram were part of the FPCCI delegation.