Thursday , September 20 2018
Breaking News
Home / Islamabad / FBR to contest allocation of Rs 1700m as PSDP for FY2018-19 in APCC
FBR to contest allocation of Rs 1700m as PSDP for FY2018-19 in APCC

FBR to contest allocation of Rs 1700m as PSDP for FY2018-19 in APCC

ISLAMABAD: The Federal Board of Revenue (FBR) is going to contest its demands for the allocation of sufficient amount of funds for the public sector development program (PSDP) in the federal budget for the fiscal year 2018-10 in the Annul Plan Coordination Committee (APCC) scheduled to be held on Monday. APCC will approve indicative budget ceilings submitted by ministries and divisions for current and development spending for the next fiscal year.

The APCC is usually jointly chaired by minister for planning, development and reform and finance minister. FBR Chairman Tariq Pasha or Member Administration Tasneem Rehman is likely to contest the FBR’s case in the APCC. Last year, the APCC completed drafting a development programme worth Rs 2.158 trillion for the upcoming year and it represented an increase of 29 percent over the current year’s Rs 1.675 trillion outlay.

A source at FBR told Customs Today that FBR had demanded allocation of Rs15451 million as PSDP for total 52 development projects; eight ongoing and 44 new projects. Out of 44 new projects 25 projects have already been approved and ten are closely related to China Pakistan Economic Corridor (CPEC). In response to FBR’s demand, the Finance Division had offered to allocate Rs800 million for the PSDP for the coming fiscal year.  Last year, FBR was granted Rs790 million for PSDP.

“Now FBR is contesting its demand of provision of at least Rs1700 million for the smooth execution of all the development projects” the source said that Finance Division was insisting FBR to include Rs12000 million being provided by foreign donor agencies to FBR into its total demand of Rs15451 million funds. The source said that it was tragic that the government was spending only 0.5% as expenditures of the tax authority whereas as per best international practices the developed countries spent 3 to 4 % of total budget on the expenditures of the tax authority.