Imtiaz Gul: FBR hinders foreign investments

ISLAMABAD: During the programme Pakistan Tonight with Sammar Abbas on HUM News, senior analyst Imtiaz Gul expressed reservations regarding Prime Minister Anwarul Haq Kakar’s attendance at the United Nations General Assembly (UNGA), arguing that it falls outside his mandate.

“Kakar’s speech is a typical old speech and wouldn’t make much difference,” he added.

Additionally, the host Sammar Abbas highlighted India’s global significance, attributing it to the country’s strong economy. Abbas posited that Pakistan’s economic struggles are a significant hindrance to its prosperity in contrast to India’s economic strength. Inquiring further about the government’s efforts to revitalise the economy, he sought Gul’s perspective on the matter.

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Addressing the issue of Pakistan’s economic recovery, Gul raised concerns about the prevailing governance model, which he deemed outdated. He particularly criticised the Federal Board of Revenue (FBR), asserting its overbearing influence in various matters. Gul maintained that, given the current economic circumstances, it is unlikely for international investors to consider Pakistan as a viable investment destination until regulatory reforms are implemented within the FBR.

“FBR’s imposition of hefty taxes on investors has had a discouraging effect on potential stakeholders, hampering the country’s ability to attract foreign investments,” Imtiaz Gul said.