ISLAMABAD: Amendments in the light of reservations of stakeholders are required for success of ongoing Asset Declaration Ordinance, 2019, a business leader said Saturday.
The ongoing amnesty scheme has not attracted many people because many questions have not been answered and it is not very different for the one announced by the last governemnt, said Shahid Rasheed Butt.
The scheme should be made acceptable and the deadline should be extended for one month, he said.
Shahid Rasheed Butt who has also served as President ICCI and Patron ICST said that the scheme should be amended and all the discrepancies should be removed without further delay.
The present shape of the amnesty scheme may not benefit the government and the business community, he warned.
He said that some businesspersons are confused while others think that they would be penalised after getting registered which calls for assurance by the authorities.
The incentives provided upon disclosure should be made valuable enough for disclosure, immunity from NAB and anticorruption laws should be announced and the declarants must be given sufficient time to evaluate the scheme, he demanded.
The business leader noted that the debt trap is one of the biggest challenges to a prosperous, stable and progressive country. The problem is bound to grow as the revenue collection is not increasing which may push debt to unmanageable levels.
