ISLAMABAD: Senate Standing Committee on Finance, Revenue and Economic Affairs reviewed the Finance Bill 2019 and clauses proposed by Federal Board of Revenue (FBR) for changes in Customs Act 1969 and Sales Tax Act 1990.
The senate committee meeting was chaired by Chairman Senate Standing Committee on Finance, Revenue and Economic Affairs Senator Farooq H Naek. The committee expressed reservations on absence of officials of ministry of interior who were asked to brief the members and present a comparative report on issues related to customs. The chairman gave directions to the ministry of finance to participate in discussion on the finance bill.
The committee also gave direction that input of senators must be included in the finance bill. The committee also gave recommendations on immovable property and proposed amendment in clauses of Finance Bill. The committee said the term immovable property should be defined and it should be made clear ‘who decides prices of the land’.
The committee asked the officials to focus more on development of remote areas. The senators also proposed that customs should give clearance for perishable food items within a month and any delays should be punished with a fine of Rs100,000. The committee directed that the government should appoint customs court judges in consultation with the chief justice.
The State Minister for Revenue Hammad Azhar assured the committee that all the proposals by them will be implemented in letter and spirit. Senators Mohsin Aziz, Dilawar Khan, Sherry Rehman, Muhammad Talha Mahmood and senior official of Ministry of Finance & Revenue and Ministry of Commerce attended the meeting.
