ISLAMABAD: The National Assembly Standing Committee on Finance has recommended that dairy sector should be considered on zero-rating tax regime instead of exemption from tax in the upcoming budget for next financial year.
The committee, which met under the chair of Qaiser Ahmad Sheikh, also discussed the challenges to local wire and cables manufacturers and supported the view point of the local cable industry.
The committee strongly recommended that local wire and cables manufacturers should be considered in zero-rated tax net. The committee further recommended that proposal received from cables sector should be sent to Federal Board of Revenue (FBR) for further consideration.
The committee was informed by the representative of Pakistan Plastic Manufacturer Association regarding the problems being faced by the industry due to custom tariff of polymeric MDI. The committee strongly recommended for downward revision of custom tariff on polymeric MDI (further PCT 3909-3000 in the upcoming budget).
The National Bank of Pakistan (NBP) president assured the committee that issues relating to pensioners would be taken up in the board meeting for its positive solution, shortly. The committee was informed by the National Accountability Bureau (NAB) director about the actions taken by the NAB after filing the reference of NBP Bangladesh scam against the accused. The committee recommended that details of the actions taken by the NAB in this regard may be provided to this committee.
