FBR’s power of freezing bank accounts may be abused widely

Staff Reporter

The Pakistan Association of Automotive Parts & Accessories Manufacturers on Sunday expressed serious concern over the decision of the Federal Board of Revenue to once again giving the Inland Revenue’s Chief Commissioners authority of freezing the bank accounts of the businessmen, which might be misused widely, appealing the government to review this policy and withdraw this anti-industry step so that a tangible and investment-friendly atmosphere could prevail in the country.

PAAPAM newly-elected Chairman Abdur Razzaq Gauhar, in a press statement issued here on Saturday, asked the government to adopt a policy of national economic development which should be aimed at devising some measures and incentives to promote the growth of industrialization in the country, as the present step to authorize the tax officials with rights of freezing bank accounts of businessmen is totally harmful and can be misused in the face of economic situation in Pakistan.

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