As per the government officials, the federal government has categorically decided to establish a Directorate General Risk Management for the elimination of under-invoicing on imports and increase the tax-to-GDP ratio in Pakistan.
In this reference, the Federal Board of Revenue announced a new chapter no. XXXI for the determination of power and core responsibilities of Directorate General Risk Management.
As per the FBR notification, the key responsibility of DGRM is to analyze, monitor, and minimize the risks associated with import activates including clearance of containers as well as international passengers.
Two committees i.e. Risk Management Committee and Directorate General Transit Trade will be formulated which are going to be headed by 21th-grade officers. These committees will conduct monthly meetings to introduce new plans and strategies for the reduction of tax and monitoring of imports and exports.
On behalf of the Federal Board of Revenue, DGRM will also prepare reports on the risk management system. The chairperson of the committee will appoint a 19th-grade officer as the secretary of the risk management committee. Furthermore, a monthly basis meeting will also be held to review the performance of the committee.