Daily The Business

Ahmed Mujtaba Memon likely to be notified as FBR chairman

 

 

Our Special Correspondent

LAHORE: The government is said to have appointed Ahmed Mujtaba Memon as chairman of the Federal Board of Revenue (FBR). The notification of Memon’s appointment is likely to be issued shortly.

Currently Dr Ahmed Mujtaba Memon is serving as additional secretary in the Finance Division. Prior to this he also served as Collector Adjudication and Collector Hyderabad. During his tenure in customs department he showed outstanding performance.

The departures of Tariq Bajwa and Jahanzeb Khan came only weeks after Finance Minister Asad Umar was asked to step down amid vital bailout negotiations with the IMF, suggesting the government wants to overhaul its financial team amid weakening growth rates and soaring inflation.

The IMF is pushing Pakistan to embrace a more flexible rupee policy to end repeated boom-and-bust cycles, with many analysts arguing that the local currency is overvalued. The government has also been frustrated by the low tax collection rates during its first year in office, with the disappointing figures threatening the prime minister’s promises to build a welfare state for the poor.

 

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