PM withdraws portfolio of revenue Division from Hammad after sturdy protest by Hafeez Shaikh - The News Observers - Business & World News
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PM withdraws portfolio of revenue Division from Hammad after sturdy protest by Hafeez Shaikh

PM withdraws portfolio of Revenue Division from Hammad after strong protest by Hafeez Shaikh

ISLAMABAD: Prime Minister Imran Khan withdrew the portfolio of Revenue Division from newly inducted Federal Minister Hammad Azhar on account of a robust protest lodged by Finance Adviser Dr Abdul Hafeez Shaikh.

As an alternative, Hammad Azhar was assigned comparatively much less vital portfolio of Federal Minister for Financial Affairs Division (EAD), which up to now had remained an integral a part of the finance ministry.

PM Imran introduced to raise Azhar as federal minister on account of his exceptionally good efficiency within the presentation of the finances and its defence within the National Assembly towards a charged opposition.

Sources within the finance ministry instructed The Specific Tribune that Dr Abdul Hafeez Shaikh lodged a robust protest with Prime Minister Imran on Tuesday over the withdrawal of the Income Division portfolio. He even hinted at resigning from his place, mentioned one other supply.

The premier needed to concede to Shaikh’s demand, as he couldn’t afford to vary one other finance minister inside three months, mentioned the sources.

Azhar took an oath of the Federal Minister for Income on Monday and remained on the place for simply 24 hours.

In partial modification of cabinet division’s earlier notification, Azhar would maintain the portfolio of Financial Affairs Division with fast impact, learn a July 9 notification of the Cabinet Division.

Azhar, son of former governor Punjab Mian Muhammad Azhar, was earlier serving within the cabinet of PM Imran as a minister of state for income.

He was the second cabinet member who was elevated to a full federal minister submit on account of his good efficiency within the eyes of the premier. Earlier, PM Imran had elevated Murad Saeed as Federal Minister for Communication.

When the event passed off Azhar was busy with the merchants’ neighborhood that has threatened to go on strike towards the budgetary measures.

“The Prime Minister has additionally been happy to approve that Dr Abdul Hafeez Shaikh, an adviser to PM Imran shall stop to carry the portfolio of Financial Affairs Division with fast impact”, in line with the Cupboard Division.

It added that Shaikh was once more handed over the portfolio of Revenue Division.

In April this yr, PM Imran had appointed Dr Abdul Hafeez Shaikh as his Adviser on Finance, Income and Financial Affairs after the premier ousted Asad Umar – his shut confidante.

It was in all probability for the primary time that the Revenue Division portfolio was withdrawn from a finance minister, because the Income Division was thought-about as an integral a part of the Finance Ministry.

The Income Division is answerable for tax coverage, tax administration, avoidance of double taxation agreements with different nations, authorized proceedings and litigation in tax issues and administration of Customs and Excise Group and Revenue Tax Group, in line with the Guidelines of Enterprise of 1973.

Sources mentioned Shaikh didn’t just like the PM Imran’s transfer and noticed it as an try and clip his wings. The choice to separate Income Division, additionally in-charge Division of Federal Board of Income, vastly decreased the Shaikh’s powers.

The choice to separate the Income Division from the Finance Ministry might need impacted implementation on the $6 billion IMF programme whose success hinges upon the FBR’s potential to ship on annual tax assortment targets.

Historically, there was at all times an absence of coordination amongst numerous divisions, as each Division tries to guard its personal turf.

The Financial Affairs Division takes care of assessments and necessities of exterior loans, issues associated to worldwide monetary establishments and exterior debt administration.

Even carving out EAD from the scope of the Finance Minister was unnatural. The PTI authorities additionally withdrew the portfolios of Privatisation Division and Statistics Division from the Finance Minister in September final yr.

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