Senate panel seeks reasons for ignoring its budget proposals

ISLAMABAD: The Sen­a­te Standing Committee on Finance and Revenue on Tuesday decided to seek reasons from the federal government for not including its over 62 recommendations in the Finance Act 2022.

The meeting, chaired by committee chairman Senator Talha Mahmood, also deci­ded to take up issuance of tax notices to traders with the Federal Board of Revenue (FBR).

The committee was infor­med that the standing committee had made a total of 124 recommendations out of which 43 were fully included 19 were partially included and 62 were ignored.

Senator Talha sought the reasons why the proposals were not included in the Fin­ance Act 2022 which will be reviewed by the committee.

Senator Kamil Ali Agha said that even those recommendations were not inclu­ded which were assured by Finance Minister Shaukat Tarin during the budget mee­ting of the standing committee.

Mr Talha said that the business community and tra­ders are being harassed by the FBR by sending unnecessary notices. The committee sought details of additional notices issued during the last five years to traders.

The committee proposed stern action against the FBR officers who issued wrong and out-of-law notices.

Haji Fujan, a dry fruit exporter, briefed the committee that that tax notices worth Rs700 million were sent by the FBR. “We pay taxes every year. We are bei­ng treated unfairly,” he complained to the committee.

The committee members observed that the FBR’s move of issuing notices is very unfortunate as not only the importers and exporters are facing problems, but also it is detrimental to the country.

Member Policy Customs Saeed Jadoon suggested to the committee that DG Customs Intelligence should be called over this issue as the DG reports directly to the chairman FBR.

Senator Sherry Rehman said that the matter should be made a test case and a sub-committee should be set up.

Ms Rehman also raised the issue of the falling value of the rupee and said that the dollar soared to Rs171.06. “Who is responsible?” She questioned, adding that inflation storm is raging in the country.

She said that the names of 700 Pakistanis have appea­red in the Pandora’s Papers two days ago. The committee should look into the matter. On which the chairman of the committee said that these are very important issues and they will be included in the agenda.

Competition Commission of Pakistan chairperson Ms Rahat Kaunain Hassan also briefed the committee.