ISLAMABAD - A parliamentary committee on Thursday noted that Federal Board of Revenue (FBR) is harassing taxpayers by misusing Anti-Money Laundering Act.
The Senate Standing Committee on Finance, which met under the chairmanship of Senator Saleem Mandviwlla, has discussed the alleged misuse of Anti-Money Laundering Act to harass taxpayers. The committee members noted that they had already expressed reservation at the time when committee was passing the AML bill, as FBR would misuse it. The committee directed FBR to submit quarterly report on implementation of AML Act.
The officials of the FBR informed the committee that Financial Monitoring Unit (FMU) sends the request to the FBR to check out any misdeed. Giving details, they said that FBR has taken action in three cases as FMU sent 210 suspicious transactions.
Attorney General of Pakistan Ashtar Ausaf Ali briefed the committee on the status of Competition Commission of Pakistan (CCP). He informed that Lahore High Court had reserved the decision on CCP’s authority, as number of companies approached court against CCP for imposition of penalty. He asked the committee to write a letter to LHC for early decision on CCP. The federal government had not devolved CCP to the provinces after 18th constitutional amendment. The committee members noted that companies challenged the penalties imposed by CCP in the courts.
The committee chairman said that SECP has refused to provide the record of Chaudhary Sugar Mills to the parliamentary committee. He further said that SECP has written a letter to committee stating that file of the Chaudhary Sugar Mills is with Federal Investigation Agency. The institutions are implementing the directives of the parliament, he added.
The committee also discussed the issue of grievances of business community of Khyber Pahkhtunkhwa, FATA and PTA who were affected by 126F of income tax Ordinance 2001. However, on the suggestions of FBR, the committee advised the stakeholders to hold a meeting with the board to find amicable solution of the issue.
The meeting was attended by Senators Muhammad Mohsin Khan Leghari, Ayesha Raza Farooq, Sardar Fateh Muhamamd Muhammad Hassani, Osman Saifullah Khan and Mohsin Aziz.