ISLAMABAD: The Senate Standing Committee on Finance and Revenue, proposed uniformed custom duty on import of vegetables and fruits from all four neighboring countries; Iran, Afghanistan, China and India.
However, the committee left the authority of fixation of rate of customs duty on the Federal Board of Revenue (FBR).
Senate Finance Panel met here with a huge agenda for discussion. Main agenda items included import of various vegetables and fruits from Iran affecting the local farmers in Balochistan living near Iranian border. A proposed agreement will be signed with the International Monetary Fund (IMF) on the conclusion of 10th review of the extended funds facility program with particular reference to prior-action and commitments of the government as well as Tax Amnesty Scheme and tax exemption announced by the government and its impacts on economy.
On request of the FBR, committee decided to defer discussion on agenda items related to proposed agreement with IMF as well as Tax Amnesty Scheme due to ongoing talks with IMF and passage of the Tax Amnesty Scheme by the National Assembly.
Briefing on the issue, Chairman FBR Nisar Muhammad Khan said that 20 percent customs duty had been levied on the import of fruits to safeguard the interests of local farmers, however, no customs duty had been imposed on vegetables.
However, import of vegetables from Iran has reduced by 91 percent in the six months of the current fiscal year as compared to corresponding era of the previous fiscal year. However, there was a slight increase in the volume of import of fruit from Iran.
After holding detailed discussion on the issue of import of fruits and vegetables both from Iran and Afghanistan, the committee proposed uniform custom duty on import of fruits and vegetables from all neighbouring countries.
The FBR chairman was of the view that committee may move recommendations in this regard which could be made part of budgetary proposals for the fiscal year 2016-17. Ultimate authority for the approval of budgetary proposal rests with parliament” he added.
