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The government on Monday introduced recommendations of the Senate to the Finance Supplementary (Second Amendment) Bill 2019 for discussion in the National Assembly to take nod of the Lower House of the Parliament to make them part of the bill. The proposed amendments suggested by the Senate to the Custom Act 1969, Sales Tax Act 1990 and Income Tax Act 2001 as well as general recommendations, were laid in the National Assembly by Minister of State for Parliamentary Affairs Ali Muhammad Khan.
The House would take up the proposals of the Senate that proposed that the non-filers be allowed to purchase 800cc vehicles instead of 1300cc and "the promissory notes shall bear annual simple profit at 14 percent and shall be redeemable after period of maturity."
The National Assembly would discuss and decide on the proposals of the Senate some of them are as follow: (i) tax on coal being extracted from the province of Balochistan should be reduced in view of the difficulties and overhead expenditure in extracting the coal from the mines of Balochistan as recommended by the Senate; (ii) Rs 5 billion be released by 30th June, 2019, to the province of Balochistan for construction of small dams in the province; (iii) Rs 300 per kilogram tax imposed on tobacco should be brought back to the previous value as the enhancement has devastated the growers and local manufactures and small enterprises related to the tobacco; (iv) the customs duty on CDSO (PCT Heading 1507.1000) be increased to Rs 15,000 MT in order to bring it in line with its replacement products and thereby support local production of those products; (v) the government should continue to impose regulatory duty on export of recycled materials like lead under DTRE scheme/manufacturing bond, in order to consider not allowing Pakistan as dumping ground for hazardous metals from all around the world under umbrella of DTRE/manufacturing bond. As per past experience misuse of DTRE/manufacturing bond caused huge loss to the exchequer. Recycled materials under DTRE/manufacturing bond are hazardous in nature and required strict compliance of BASEL convention; (vi) the government should ensure to add electric accumulators and parts falling under HS Code 85.07 in the list of export items from Pakistan to China under Pak-China Free Trade Agreement to support local Pakistani manufacturers; (vi) the government should devise an immediate claim release mechanism to support non-textile exporters in order to facilitate export of non-textile goods; (viii) the construction work of bridges and roads subsurface water drainage lines on the Taxila-Haripur via Khanpur Road should be completed at the earliest; (ix) to improve the existing infrastructure of Sui gas and electrical lines in district Haripur, an allocation of Rs 100 million should be made; (x) a 132MW grid station should be established in district Kohistan at the earliest to meet the increasing demands of power consumption and ; (xi) road should be widened from Havelian to Abbotabad as soon as possible in order to avoid extreme road blockage causing inconvenience to the general public and new Gwadar Airport should be completed on priority basis.

Copyright Business Recorder, 2019

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