ISLAMABAD - A parliamentary committee on Wednesday has expressed displeasure over the Federal Board of Revenue (FBR) for not completing its inquiry against corrupt officials within the prescribed period of three months.
The Senate Standing Committee on Finance and Revenue, which was chaired by Senator Farooq H Naek, has discussed the status of the progress report on the action taken by the FBR against its corrupt officers as recommended by the Standing Committee, in February, 2018.
The committee showed displeasure over the FBR for not completing its inquiry within three months. The committee further granted the FBR another three months to complete the inquiry and directed FBR chairperson to submit the report to the committee.
The meeting commenced with consideration of a point of public importance raised by Senator Talha Mahmood regarding depreciation of the Pakistani rupee against the dollar.
The matter was deferred due to the absence of minister of finance and Governor State Bank. The committee showed displeasure over the absence and said that an important could not be discussed in the absence of of minister and the governor. Farooq H Naek stressed that the minister should be present in the next meeting.
While discussing the case of tax issues being faced by the Sino-Hydro Corporation Limited, it was revealed that the issue had been submitted to the Appellate Court and once a decision is taken on it, if in favour, an exemption certificate would be issued within a week.
Considering further, the issue of modalities for the implementation of Tax Relief Regimes announced by the government as promised during the passage of the Fata, Pata and Malakand Region Merger Bill/ 25th Constitutional Amendment the committee recommended that the FBR give a detailed briefing regarding tax exemptions granted through SRO 887(1)2018 i.e. prior to the merger.
Assessing sudden changes in the customs tariffs especially that of Copper, Cotton and some other items after immediate passage of the Federal Budget 2018-19, it was resolved that in future any such immediate change in tariff by the Cabinet should be presented to the Parliament.
The meeting was attended by Senator Mian Muhammad Ateeq Shaikh, Senator Mohsin Aziz, Senator Dilawar Khan, Senator Khanzada Khan, Senator Muhammad Akram, Senator Musadik Masood Malik and senior officers from the FBR, Ministry of Finance and Ministry of Law and Justice. Senator Fida Muhammad, Senator Mirza Muhammad Afridi and Senator Shammim Afridi were specially invited for their valuable input regarding issues that came under discussion with regards to the Fata, Pata and Malakand Region Merger Bill/25th Constitutional Amendment.