Caretaker govt forms high-powered body for FBR restructuring. The caretaker government has officially instituted a formidable Implementation and Asset Distribution Committee (I&ADC) to spearhead the comprehensive restructuring of the Federal Board of Revenue (FBR).
This strategic move comes in the wake of the Federal Cabinet’s endorsement of the FBR’s restructuring and digitization proposal.
According to a notification released by the Ministry of Finance, Revenues, and Economic Affairs Division, the I&ADC will be helmed by the Minister for Finance and Revenue, comprising key figures such as the Secretary of Law and Justice, Dr. Musharraf R. Cyan, Dr. Manzoor Ahmad, Syed Nadeem Rizvi, Mukarram Jab Ansari, Afaq Ahmad Qureshi, and Sajid Mehmood Qazi.
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The committee’s ambit is delineated by a set of meticulous terms of reference (ToRs) aimed at ensuring the expeditious completion of the restructuring initiative.
Among its chief responsibilities are providing technical input for statutory drafts, vigilant oversight of subcommittees, issuance of requisite regulations, and equitable distribution of resources and assets among successor organizations.
The I&ADC is further tasked with obtaining necessary government approvals, facilitating a seamless transition for the FBR into its successor organizations, and addressing any additional functions delegated by competent authorities.
The committee is set to operate alongside two subcommittees, each dedicated to specific aspects of the restructuring process.
The first, the Legal Sub-committee, will be chaired by the Secretary of Law & Justice and is mandated to draft legislative instruments and amendments to fiscal laws and ensure the smooth implementation of the new legal framework.
On the other hand, the Finance and Administration Subcommittee, under the leadership of the Special Secretary of the Establishment Division, will focus on identifying and distributing financial resources, assets, and human resources among successor organizations, with an emphasis on minimizing operational disruptions.
Crucially, the I&ADC and its subcommittees have the flexibility to co-opt additional members, subject to prior approval. Adherence to timelines outlined in the Implementation Plan is paramount, with a focus on maintaining operational continuity, facilitating seamless revenue collection, and mitigating disruptions during the transition phase.
Functioning as the administrative secretariat for the I&ADC, the FBR, specifically the Member Admin FBR, will provide essential secretarial support, relevant information, and official records as required by the committee and its subcommittees.
As the caretaker government forms a high-powered body for FBR restructuring, in a final authoritative note, the Finance Minister retains ultimate decision-making authority concerning the functioning, jurisdiction, and resolution of disputes arising from the work of the I&ADC or any of its subcommittees.
