The federal government has given new assignment, Additional Secretary Ministry of Production to Shahid Hussain Asad, a BS-21 officer of Inland Revenue Service. Sources told Business Recorder here on Thursday that Asad has assumed the charge of the post as Additional Secretary Ministry of Production. He has relinquished the charge of the post of Director General (Special Initiatives), Federal Board of Revenue.
He has also worked as FBR Member Inland Revenue, Director General Intelligence and Investigation Inland Revenue FBR and at key positions in the field formations of the FBR. As head of the intelligence agency of the FBR, he introduced the concept of "Red Alerts" preventing fraudulent sales tax refunds to the tune of billions on monthly basis. Similarly, he also started first ever exercise of documentation of potential persons across the county. Major policy reforms were initiated during his tenure which was appreciated by the business and trade.
In the tenure of Shahid Hussain Asad as member IR, FBR has shown remarkable progress in revenue collection. Growth in revenue collection was over 25 percent in November 2011. The revenue collection was Rs 134 billion in November 2011 and the FBR has witnessed a growth of more than 25 percent.
The FBR has maintained growth of 24-30 percent during July-November 2011-12. During first quarter of 2011-12, the FBR has witnessed a growth of 31 percent. Therefore, the average growth comes around 25 percent during July-November 2011-12. The growth pattern in July-November 2011-12 reflected that the FBR has maintained average growth of 25 percent in all five months of 2011-12.
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