Keeping in view the increasing interest of the people towards Assets Declaration Scheme (ADS), the government on Sunday extended its last date till the office hours of July 3 (Wednesday) to facilitate them to declare their undeclared assets and secure themselves from impending complications.
The extension in the ADS deadline was announced by Advisor to the Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh here at press conference.
“There’s been a lot of interest in the Asset Declaration Scheme,” he said, adding that the deadline had been extended to banking office hours on July 3.
“We are giving people a final opportunity [to take advantage of the scheme] in case some people are still in the process or are facing difficulties wrapping it up,” he said.
“After that, the benami commission, that we’re currently establishing to pursue benami properties, will come into action,” Shaikh said.
Minister of State for Revenue Hammad Azhar, who was also at the briefing, said that thousands of people had availed the scheme so far. “We’ll put forth the details of this scheme in a few days,” he said.
Shaikh, while discussing the government’s budget strategy at the press conference in Islamabad, said it was part of its agenda to “make all things transparent. To utter nothing but truth in front of the public. That is precisely what is reflected in this budget.”
“That’s why we are announcing that we are going to the International Monetary Fund programme. We’re sending a message to everyone out there that we’re serious and ready to take hard decisions so we can propel ourselves along a growth trajectory.”
“Our focus is to generate confidence in markets and put the reforms in proper sequence. The idea is to do all this in phases, not abruptly,” he explained.
Chairman Federal Board of Revenue Shabbar Zaidi has already assured that assets declared through the scheme won’t be used for any other purpose, neither will be presented as evidence in any of the case.
Earlier, Prime Minister Imran Khan also hinted at extending the deadline of the Asset Declaration Scheme. PM Khan said people are afraid that their tax money wouldn’t be utilized in the right way as they don’t have faith in the working of Federal Board of Revenue.
