ACCI concerned over deterioration of institutions

Islamabad:The Attock Chamber of Commerce and Industry (ACCI) on Tuesday expressed serious concern over deterioration of important institutions in the country.

Many federal and provincial institutions are decaying with and heading on the path of disintegration, it said.Failure of institutions has been bring economy down which it has contributed to overall uncertainty, said Tariq Mehmood, President Attock CCI.

The situation in Federal Board of Revenue (FBR) one of the most important departments in country needs urgent attention of the authorities concerned as its decay has raised concerns among business community, he said.
He said that lack of accountability, absence of transparency and frequent transfers and postings in the Apex tax collection body is sending wrong signals and hurting working of the institutions which has always invite ire of independent economists and business community.

Tariq Mehmood said that so far not a single chairman of the FBR has initiated serious action against tax-evaders meaning thereby that the top brass of FBR has been contributing to the tarnished image of this body.Many institutions have earned fame by bungling of funds, mismanagement, misreporting, inefficiency, highhandedness and resisting purposeful reforms, he said.