Shabbar Zaidi briefs ISI on export-oriented sectors

Okara

Prime Minister (20k+ posts)
Ji bilkul they did. But it is beyond your capacity of reading and understanding. So i will not dare give you anything to know.
U mean ur leadership decided not to share receipts with courts and spend their remaining life in jail as a corrupts? Good decision.
 

RajaRawal111

Prime Minister (20k+ posts)
Please go ahead and share money trail which was submitted to SCP.
Before I do, please give me some information. Since you are living in the first world (Calgary Canada i think). So you will be the best person to ask.

In your country, when some one declares bankruptcy. Is he not allowed to open any account in any bank, or he is just not allowed to take any further loans ?
 

Sach Bolo

Senator (1k+ posts)
ISLAMABAD: The Federal Board of Revenue (FBR) has assured the top spy agency of the country that the rules for release of sales tax refunds would be issued on Wednesday (today) and there would be no liquidity crunch for export-oriented sectors during the current fiscal year.

FBR Chairman Shabbar Zaidi along with his team on Tuesday visited the headquarters of the Inter-Services Intelligence (ISI) and extended briefing on abolishing the zero-rating regime for five export oriented sectors, including textile, through the budget 2019-20.
The FBR has been assigned to achieve highly ambitious tax collection target of Rs5,550 billion for the current fiscal year against revised provisional estimates of Rs3,832 billion in last fiscal year 2018-19 that ended on June 30, 2019. For achieving the collection target, the FBR requires growth in revenues to the tune of over 44 percent that had never happened in history of Pakistan.
“We are going to issue rules for release of refunds under new mechanism today (Wednesday),” said Shabbar Zaidi when contacted to seek his comments on Tuesday.
He said that there would be no liquidity crunch for export oriented sector during the current fiscal year as the new rules for issuance of refunds would be placed in order to avoid any delays.
However, the sources said that the refunds mechanism would ensure prompt release of amount in shape of due refunds on receipt of Goods of Declaration (GDs) at time of export proceeds. If the FBR could not manage the refunds mechanism effectively then the whole scheme of doing away with zero rating regime for export oriented sectors could face a major blow to the economy as well as tax collection system of the country.

https://www.thenews.com.pk/print/502725-shabbar-zaidi-briefs-isi-on-export-oriented-sectors
 

Zaidi Qasim

Prime Minister (20k+ posts)
اوے بھائ یہ سب بوٹوں کی اپنی پیدائش ہیں اگر آئ ایس آئ کو بریف نہیں کریں گے تو کیا ریھڑی اور پھل والے سے رجوع کریں گے ۔

 

Okara

Prime Minister (20k+ posts)
Before I do, please give me some information. Since you are living in the first world (Calgary Canada i think). So you will be the best person to ask.

In your country, when some one declares bankruptcy. Is he not allowed to open any account in any bank, or he is just not allowed to take any further loans ?
As per my information, once bankruptcy declared then that person needs to follow a certain process. Once bankruptcy accepted then no credit/loan for next 7 years. Regarding bank account not sure but expecting a person can open an account.
 

RajaRawal111

Prime Minister (20k+ posts)
As per my information, once bankruptcy declared then that person needs to follow a certain process. Once bankruptcy accepted then no credit/loan for next 7 years. Regarding bank account not sure but expecting a person can open an account.

That is correct. I have friends in Toronto, Alabama, California, Australia, UK and Arab countries. All say same thing. I spent some time abroad for so called higher education and I also learned same thing.
In 1980, when Gulf steel was sold, there was 12 million dirham (25% shares of Gulf Steel). Shareefs gave the trust deed in name of tariq Shafi. Now JIT did not go after that transaction. Never tried to contact any person in Al-Ahli family.
Reason they rejected is that because Tariq Shafi defaulted a loan on BCCI in late 70s. Wajid Zia said they (JIT) ASSUMED that that 25% was used to Pay his deflated loan --- otherwise Tariq Shafi could not open account in BCCI.
Keeping in mind what you said above, tell me please would you agree with that ???


Brother, there are reasons why I am so skeptical with all of this.
The problem is that Your Ik has put you guys on the track that there will be Receipts as they were buying and selling Alloo Pyaz. And you people are just not getting out of that mind set.
 

Okara

Prime Minister (20k+ posts)
That is correct. I have friends in Toronto, Alabama, California, Australia, UK and Arab countries. All say same thing. I spent some time abroad for so called higher education and I also learned same thing.
In 1980, when Gulf steel was sold, there was 12 million dirham (25% shares of Gulf Steel). Shareefs gave the trust deed in name of tariq Shafi. Now JIT did not go after that transaction. Never tried to contact any person in Al-Ahli family.
Reason they rejected is that because Tariq Shafi defaulted a loan on BCCI in late 70s. Wajid Zia said they (JIT) ASSUMED that that 25% was used to Pay his deflated loan --- otherwise Tariq Shafi could not open account in BCCI.
Keeping in mind what you said above, tell me please would you agree with that ???


Brother, there are reasons why I am so skeptical with all of this.
The problem is that Your Ik has put you guys on the track that there will be Receipts as they were buying and selling Alloo Pyaz. And you people are just not getting out of that mind set.

What was the initial value of this Gulf Steel Mill?
How the money was transferred to buy this Gulf steel mill by Shareef Family?
Do Shareef family have a trust deed in the name of Tariq Shafi to get 12 Millions Dirhams on their behalf?
Lets assume, this Gulf Steel Mill belongs to Shareef family and they transfred money through non-banking channel but, did they paid in cash to buy Gulf Steel Mill?
Also when this steel mill was sold, where the cash went?
 

RajaRawal111

Prime Minister (20k+ posts)
What was the initial value of this Gulf Steel Mill?
How the money was transferred to buy this Gulf steel mill by Shareef Family?
Do Shareef family have a trust deed in the name of Tariq Shafi to get 12 Millions Dirhams on their behalf?
Lets assume, this Gulf Steel Mill belongs to Shareef family and they transfred money through non-banking channel but, did they paid in cash to buy Gulf Steel Mill?
Also when this steel mill was sold, where the cash went?
You can keep asking all king of what this what that if you want. But The fact is that Gulf steel was established by Mian Shareef in 70s. Long befor NS came into power. And Tariq shafi was his nephew and operating manager of Gulf steel.
JIT never refused 12 million dirhams. It just assumed that it was used to clear of the defaulted loan of BCCI
 

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