ISLAMABAD: Advisor for Commerce, Textile, Industry and Production Abdul Razak Dawood on Tuesday said, Federal Board of Revenue (FBR) is trying to revamp the past 40-year errors in 40 days.
While addressing the standing committee on commerce, Dawood said Pakistan’s exports and imports have remained the same as the previous year.
In the coming year, exports are expected to increase by 29 per cent, he said.
FBR hasn’t decided to put taxes on local sale items yet, said Dawood.
Standing Committee Chairman Syed Naveed Qamar said by terminating the zero-rating policy, industries will suffer due to which a lot of them could shut down.