ISLAMABAD - Senate Standing Committee on Finance and Revenue on Tuesday decided to discuss the Pandora leaks, which included the name of more than 700 Pakistanis.
The International Consortium of Investigative Journalists (ICIJ) has unveiled “Pandora Papers” which includes the names of more than 700 Pakistanis. The leaked documents revealed that key politicians including federal cabinet members, opposition party leaders, “have secretly owned an array of companies”. Senate Standing Committee on Finance and Revenue has also raised the issue in its meeting held yesterday. It has decided to discuss the issue in details in next meeting by taking input from the relevant stakeholders. 
Senate committee, which met under the chair of Senator Talha Mahmood, has discussed the various issues. The committee has expressed concerns over the continuous devaluation of the Pakistani currency. Senate Sherry Rehman said that dollar value has surged to Rs171.06, which is enhancing the inflation rate in the country. She quoted a report that predicted that dollar value might surge to Rs180. Current account deficit is widening, which is a dangerous sign for the economy, she added. Other committee members also noted that inflation would further increase in the months to come due to the rupee depreciation as well as continuous increase in oil prices. They asked the government to provide details of massive currency depreciation.
Senate Standing Committee on Finance and Revenue has also discussed the budget proposals, which were moved by Senate to the National Assembly for incorporating in Finance Bill 2021-22. Ministry of Finance informed that Senate Standing committee on Finance had forwarded 124 budget recommendations. However, 43 recommendations were fully incorporated in Finance Bill, 19 partially and 62 proposals were rejected. Chairman Committee Senator Talha Mahmood asked why government had rejected the proposals, which were finalized by the senators. 
Chairman committee said that Federal Board of Revenue (FBR) is issuing unnecessary notices to the business community. He said that notices are disturbing the businessmen. The committee has sought details of notices issued to the business community in last five years. A representative of Dry Fruit Association informed the committee that FBR has sent the notices of Rs700 million despite the fact we pay tax every year. He said that FBR is doing unjustice with us.
The committee has also discussed the performance of Competition Commission of Pakistan (CCP). Chairperson CCO informed the committee on the working of the CCP. Committee chairman has asked from the CCP to provide details of fine imposed on different sectors, recoveries and pending cases in courts in next meeting.