ISLAMABAD: The Senate Standing Committee on Ports and Shipping has decided to step in to resolve the outstanding issues between the Federal Board of Revenue (FBR) and the Karachi Port Trust (KPT).
These issues pertained to deduction of tax from the accounts of the KPT as well as the title of the Karachi Port Trust Officers Cooperative Housing Society Limited and others.
Reportedly, some years ago, there had been a row between the FBR and KPT over the deduction of tax amounting to Rs 8 billion from the latter’s accounts.
Similarly, allottees of Karachi Port Trust Officers Cooperative Housing Society Limited, situated on the Mai Kolachi Road, had also been demanding the settlement of the outstanding dispute about the title of the society.
A source at the FBR told Customs Today that the committee has decided to hold an important meeting in Islamabad and told the FBR to prepare a comprehensive report on almost all the pending issues with KPT, including the revenue and other ones so that they could be settled down with the KPT administration.
The notification said that committee had also sought briefing from the Gwadar Port Authority about the updated status of East Bay and Gwadar Airport. The East Bay Expressway is an 18.9 kilometer long controlled access road which is under construction and the project is expected to be complete by the end of 2017.
The new six-lane expressway will connect the Gwadar Port to Makran Coastal Highway, and being developed by the Gwadar Port Authority. The project is being developed as part of the “Early Harvest” scheme of China Pakistan Economic Corridor, and is part of a wider $1.62 billion development package for the city and port of Gwadar.
Similarly, Gwadar International Airport is a domestic and international airport situated 14 km (9 miles) north of the city centre of Gwadar. Work on the Gwadar International Airport being constructed at a cost of $260 million continues and the project will be completed within stipulated time.
