An advice in this regard was sent to the President and the Ordinance on withholding tax, after approval of the President, would come into force on Saturday, July 11.
The Finance Minister briefed the Prime Minister about his visit to China, signing of Asian Infrastructure Investment Bank (AIIB) Articles of Agreement and meetings with heads of financial institutions including Exim Bank, said a Prime Minister House press release.
He also apprised the Prime Minster about agreement reached with traders associations/members of business community regarding adjustment in withholding tax from 0.6% to 0.3% and other FBR related matters.