FBR criticized for harming trade, textile exports drop; senators demand urgent reforms
Islamabad, Pakistan – Web Desk: Senators in the Standing Committee on Commerce expressed strong criticism of the Federal Board of Revenue (FBR), comparing it to a “Tatar army” causing destruction wherever it goes.
During the session, Senator Talha Mahmood remarked that the FBR operates like a destructive force, with officials seemingly taking pleasure in creating difficulties for traders. Senator Saleem Mandviwala called it “a major failure” and urged the FBR to resolve pressing trade issues promptly.
The committee discussed the Ministry of Commerce’s update on barter trade SROs, highlighting delays in FBR’s development of the V-Book module. Senator Faisal Saleem noted that Pakistan’s textile sector and exports have suffered, accusing the FBR of acting as an “obstacle” to trade.
Officials said that despite favorable tariffs, high production costs in Pakistan limited textile exports to the US, with only a 4% increase from July to December. By contrast, countries like Vietnam, Bangladesh, and Cambodia benefited more. EU exports under GSP Plus totaled $7 billion, similar to India, which faces lower policy rates (5.5% vs Pakistan’s 10.5%).
