FBR is Going to Close Down PACCs
Wednesday, March 3, 2010
In view of findings of the system audit report of leading chartered accountant firm The Federal Board of Revenue has principally decided to close down Pakistan Customs Computerised System (PACCs). The report observed that the system is ineffective with deficiencies.
Whereas the representative of Agility in Pakistan has denied any knowledge of the decision by the Finance Minister and observed that the information about the company provided by the audit firm and FBR is not correct. He said Agility was a strong, robust and financially strong company which was actively being traded at the Kuwait Stock Exchange, in fact even on March 2, 2010, over 4.3 million shares of this company were traded at the Kuwait Stock exchange at 660 Kuwaiti dinar each.
He expressed strong reservations at the unilateral decision saying no copies of the audit report or the executive summary were ever provided to the company. The company reserves the right to take any appropriate action after studying the system audit report, when provided to them.
Labels: FBR
posted @ 4:33 PM,
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