Islamabad, Pakistan: In a significant move to enhance efficiency in the collection and transfer of duties and taxes, the Federal Board of Revenue (FBR), Revenue Division, has issued directives to ensure the operation of authorized bank branches on Saturdays. This initiative aims to facilitate the same-day transfer of collected funds to the State Bank of Pakistan (SBP).
In a circular issued under C.No. I(36)Cus-App-Ops/2023(Pt-I), the FBR has instructed the Chief Collectors of Customs across all regions, including Appraisement-South (Karachi), Appraisement-Punjab (Lahore), Appraisement-North KPK (Peshawar), and Appraisement-Balochistan (Quetta), to liaise with the SBP and National Bank of Pakistan (NBP) for implementing this directive.
The move underscores FBR’s commitment to improving fiscal management and ensuring uninterrupted revenue operations. By keeping relevant bank branches operational on Saturdays, the FBR seeks to ensure a seamless process for businesses and government alike, eliminating delays in the financial ecosystem.
The circular further emphasizes the collaboration between customs authorities and financial institutions to achieve these objectives, reflecting the FBR’s proactive approach to streamline operations.
This decision is expected to bring significant convenience for taxpayers while strengthening the revenue collection system in the country.
