Pakistan not going default: CJP


ISLAMABAD : Chief Justice of Pakistan (CJP) Umar Ata Bandial has remarked Pakistan is not going default.

He observed “ all need to improve themselves for the sake of national interest. Government should take measures to curb smuggling of foreign currency. FBR has imposed supertax with good intent. It is also known that Shell Pakistan already pays tax of millions of rupees.
The CJP gave these remarks while presiding over a 3-member bench of Supreme Court (SC) during the hearing of the Federal Board of Revenue (FBR) plea against a Lahore High Court (LHC) order which had stayed the recovery super tax from high-earning taxpayers Friday.
During the hearing of the case the counsel for FBR Faisal Siddiqui told the court final decision of Lahore High Court has come in super tax case whereby the collection of supertax from companies has been suspended for 60 days. In tax cases SC often directs the companies to deposit 50 percent.
Farogh Nasim the counsel for the companies took the plea FBR petitions against the interim order have become ineffective after the announcement of final decision by LHC, The cannot issue order for collection of 50 percent super tax after the petitions get ineffective.

The counsel for FBR Faisal Siddiqui said “ I am contesting case of FBR now. If country goes default then I will represent federation too.

The CJP remarked Pakistan is not getting bankrupt. All need to improve themselves in the national interest. Government should take measures to stop smuggling of foreign currency to other countries.
The court while ordering to club all the petitions regarding super tax adjourned the hearing of the case till February 16.