Islamabad (TDI): The federal government has taken a principled decision to take action against corrupt Federal Board of Revenue (FBR) officials who have been hindering foreign investment in the country.
Reports of corruption among FBR officials affecting foreign investment led to the government’s directive to take strict measures against irregularities and corruption within the FBR.
According to sources, employees of the Corporate Tax Office in Islamabad have been accused of corruption, resulting in losses to foreign investment.
The Establishment Division has demanded that the FBR eliminate corruption to safeguard foreign investment.
The government’s move comes at a time when foreign investment has already taken a hit due to global economic uncertainties.
According to the United Nations Conference on Trade and Development (UNCTAD), global foreign direct investment declined by 2% to $1.3 trillion last year.
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Experts believe that addressing corruption within the FBR is crucial to attracting foreign investors. “Taking action against corrupt tax officials who hinder foreign investment is essential,” said a source.
