Are our fears on VAT far-fetched? Federal Board of Revenue wants us to believe that VAT is not only a replacement of GST, it will be far better than GST. Then why fear? Above all, why Government is so hopeful that VAT will bail it out of financial crunch, at least for a while. Anything which is a cause of rejoicing for the Government is dreadful for the masses. Is it myth or reality? Read: