Rs 1.025 trillion tax target for fiscal year 2008 achievable: CBR

The country's continuous economic growth will help to achieve the historic tax collection target of Rs 1.025 trillion for the next fiscal year. Central Board of Revenue (CBR) Chairman Abdullah Yusuf while talking to newsmen at Chartered Presentation Ceremony of Karachi MJF Lions Club at a local hotel here on Saturday evening, said the recent tax collection figures show that current year's tax collection target of Rs 835 billion would be surpassed.
The increasing revenue collection attributed to continuous economic growth, increase in tax base and rising profits of public and private sector companies, he added.
Regarding tax incentives to charity organisations, Abdullah Yusuf said there is a special concession for charity organisations in the tax collection, adding the welfare-oriented projects should be given incentives to encourage them for the welfare of humanity. The CBR chief appreciated the efforts of Lions Club against blindness, and hoped that the club would continue its activity for the welfare of humanity.
He pointed out that he has been affiliated with the Lions Club since early 80s. "I was the chartered treasurer of the Islamabad Lions Club which was the first multiple club.
Speaking on the occasion, Malik Khuda Baksh, ID Endorsee, Past Council Chairperson and National/Multiple National Coordinator CFS II, said the Lion Club initiated Campaign Sight First I in 1991 and collected $143 million against the target of $120 million. He said the Lions Club is the biggest welfare organisation in the world which is fighting against blindness.
He said the Lions Club initiated its Campaign SighFirst II in 2005 Hong Kong convention. The first year of the campaign was for organisation and training and the second year is for fund raising while the third and final year of the campaign would be for celebration. He pointed out the over $90 million has been collected till May 2007.
Regarding establishment of Karachi MJF Lions Club, he said this club was set up recently and the business community leader S.M. Munir has been elected its first president. Mian Zahid Hussain has been elected as secretary while Khalid Tawab as treasurer of the club with the other 20 members from business community. Chairman CBR Abdullah Yususf is also included in the members of this newly established club. He appealed to the business community, traders and other citizens to contribute their funds to fight against blindness.
On this occasion, S.M. Munir said that being the first president of this club, he will try to make it very active club. He announced a donation of $10,000 for the campaign sightfirst II while five other dignitaries announced to donate $1000 each for this purpose.
He said there is a need to create awareness regarding donation of organs among the people of the country. An Organ Donation Ordinance is pending in the National Assembly and it is needed that this ordinance should be passed as soon as possible.
He also appealed to the business community of the country to donate more fund in this regard so that more people could be benefited through this campaign. A number of dignities from business community, including Mian Zahid Hussain, Khalid Tawab, Yahya Polani, Gulzar Feroz, Abdul Haseeb Khan were also present on this occasion.