ISLAMABAD - The Federal Board of Revenue (FBR) has constituted Anomaly Committee-Technical and Anomaly Committee-Business in order to identify and remove the technical and legal anomalies in the Finance Bill 2021. The TORs of the Committees will be to review the identified and submitted anomalies and to advise FBR on removal of anomalies. 
The Anomaly Committee-Technical will be chaired by Naeem Akhtar Sheikh, UHY Hassan Naeem & Co, whereas the Co-Chairmen of the Anomaly Committee-Technical will be Ch Muhammad Tarique, Member (IR-Policy) and Syed Hamid Ali, Member (Customs-Policy), FBR. The other members of the Committee are  Ashfaq Tola,  Abdul Qadir Memon, Patron Pakistan Tax Bar Karachi, Syed Yawar Ali, Chairman Pakistan Business Council Karachi,  Shahzad Hussain, Ex-Partner, AF Ferguson & Co, Khurram Mukhtar, Patron-in-Chief PTEA,  Sadia Nazeer Partner KPMG, Mr. Hafiz Muhammad Idrees, Advocate Supreme Court Ex-President Tax Bar,  Habib Fakhruddin and  Abdul Wahab Kodvavi.
Similarly, Anomaly Committee-Business will be chaired by Sultan Ali Allana, Chairman HBL whereas; the Co-Chairmen of the Anomaly Committee-Business will be Ch Muhammad Tarique, Member (IR-Policy) and Syed Hamid Ali, Member (Customs-Policy), FBR. The other members of the Committee are Ehsan A. Malik CEO Pakistan Business Council, M. Shariq Vohra President KCCI, Irfan Siddiqui President OICCI, Sherbaz Ilyas Ghazanfar Bilour President Sarhad Chamber, Abdul Samad President Quetta Chamber, Mian Nasir Hyatt Maggo President FPCCI, Mian Tariq Misbah President LCCI, Adil Bashir Chairman APTMA, Asif Peer President American Business Council, Asad Shah Director External Affairs PTC and Amir Waheed Ex-President Islamabad Chamber.
Technical and Business Anomalies can be submitted on or before close of office hours on Tuesday, June 22, 2021 to the Co-Chairmen, Anomaly Committees in their offices at Room No. 348 (Customs) and Room No. 355 (IR), 3rd Floor, FBR House, Islamabad. The Committee can also be reached at the e-mail ‘memberir@fbr.gov.pk’ (IR related) and ‘membercustomspolicy@fbr.gov.pk’ (Customs related).
Senate standing
committee on Finance discusses Finance Bill
Meanwhile, the Senate Standing Committee on Finance and Revenue continued to discuss the Finance Bill on Friday. The committee has rejected the government’s proposal of. The committee has rejected the proposal of increasing General Sales Tax (GST) from 10 to 17 per cent on poultry feed. The Poultry Association informed that decision of increasing GST on feed would result in enhancing chicken prices in the country.
The committee was informed that government has extended the exemption from withholding tax on Matiari-Lahore Transmission Line Project till 2022. The government said that it is working to provide the benefit to the people of reducing taxes and duties on cars in the annual budget. It was also informed that government has eliminated the 25 per cent tax exemption given on Modaraba and there would be 7.5 per cent on its dividends. However, the committee has rejected this proposal.
Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood informed the parliamentary committee that Pakistan has signed Free Trade Agreements (FTAs) with China, Malaysia and Indonesia. Meanwhile, the government is negotiating with Turkey and Sri Lanka for the FTAs. He informed that government is rationalising the tariff to promote industrialisation and Make in Pakistan.  The government has reduced the duties raw materials in the budget for the promotion of industrialisation in the country.
Sharing future plan, Adviser said that government would take measures for improving agriculture, iron and steel industries of the country in next year by reducing duties on raw materials used in these sectors. He recommended that country should discourage imported cars and local productions of the vehicles should be promoted. The government has directed to reduce the prices of cars following the government’s decision of reducing taxes and duties on this sector. 
He said that government has also given relief of Rs2 billion to the pharmaceutical sector. However, the government noted that advantage of this relief should be passed on to the common people of the county. The senators said that prices of medicines have increased by 400 to 500 per cent in the country.