LCCI urges Federal Board Revenue to withdraw SRO 283(I) 2010.

LAHORE, May 10, 2010 (Frontier Star): The Lahore Chamber of Commerce and Industry (LCCI) has urged the Federal Board of Revenue to immediately withdraw SRO 283(I) 2010 as the business community would not allow officials of Directorate General of Intelligence and Investigation to have free access to search businesses and premises of manufacturing units of registered persons and would resist any such move tooth and nail. According to handout issued here on Monday, the LCCI President Zafar Iqbal Chaudhry, Senior Vice President Ijaz A Mumtaz and Vice President Faisal Iqbal Sheikh said that it seemed that the bureaucracy was busy in creating more hurdles for the businesses instead of suggesting some relief package while ignoring the challenges being faced by the economy for the last many years. The LCCI office-bearers said that empowering officials of Directorate General of Intelligence and Investigation to have free access to search businesses and premises of manufacturing units of registered persons for obtaining stocks records, bank statements and other business-related data was tantamount to create an atmosphere of harassment and no business could prosper in such circumstances. They said that the Federal Board of Revenue should have consulted the chambers and trade bodies in the country before introducing SRO 283(I) 2010 that was bound to put corrupt practices into currency. The LCCI office-bearers said that the business community was unable to understand the wisdom behind the introduction of SRO 283(I) 2010 when the Federal Board of Revenue was collecting revenue than the preset targets. They said that how the government would increase the tax base when the sword of fear would be hanging on the heads of the business doing people. "How the government would restore the confidence of businessmen when the intelligence officials would be raiding their business places." The LCCI office-bearers said that it seemed that the SRO had been issued in connivance with corrupt elements in the bureaucracy and to tarnish the image of the government. "It's a conspiracy against present regime and the conspirators must be explored The Federal Board of Revenue considerably enhanced the powers of Directorate General Intelligence and Investigation through amendment in SRO 56(I) 2010 through SRO 283 (I) 2010. Now the officials of the Directorate enjoy the authority to inspect the goods, stocks, records, data, documents, correspondence, accounts, utility bills and information regarding funds or assets. The registered person or his agent would be bound to answer any question or furnish such information or explanation may be asked by the Director General, Director, Deputy Director and Assistant Director of the Directorate General of Intelligence and Investigation.

(THROUGH ASIA PULSE)