ISLAMABAD: Senate Standing Committee on Finance Chairperson Nasreen Jaleel has demanded that all monetary matters should be transferred to the upper house of the Parliament while national law pertaining to debt limit should be acted upon in letter and spirit.
She lauded the performance of the Federal Board of Revenue, saying that the board efforts for tax collection were commendable which was evident from the 15 percent increase in overall revenue collection.
Talking to the Customs Today exclusively, the MQM lawmaker pointed out that Nadra had data of 3.9 million potential non-taxpayers, asking the government to bring them into tax net. Nasreen Jaleel stressed the need for taxing the rich, saying that taxes on luxury vehicles should be increased.
“The government intentions and direction both are right but the magnitude of problems is so enormous that the government would have to change its priorities to cope with them,” suggested the Senate Standing Committee chief.
“Budget 2014-15 is a good endeavour but not much is expected to change in favour of people as fund allocation for health and education sector has not been given due significance,” she commented.
She claimed that the government had failed to increase the tax net, adding that bringing back assets from foreign countries by politicians in line with the Lahore the High Court’s verdict would change fate of the country.
The MQM lawmaker emphasized that the practice of tax exemptions should end and the tax laws should be implemented without discrimination. The Senate Standing Committee chairman also stressed the need for making the agricultural tax a federal subject, saying that some lawmakers having vested interest, did not let the agricultural tax to be a federal subject.
Nasreen Jaleel added that privileges should be announced for the agricultural sector which was the backbone of the national economy.
She questioned the ground for withholding tax exemption on iron scrap only? Adding that copper, bronze and silver should also have been extended similar exemptions.
“Look one thing is now very much clear that Karachi Airport incident has left little room for talks with Taliban,” she declared.
About ever-rising power tariff, she declared that the electricity tariff should not be increased unless there was loadshedding in the country.
About revival of sick public sector entities, the Senate Standing Committee chairman declared that the government had appeared unable so far to revitalise Railways, PIA and Steel Mills which were eating away at precious public money, adding that rejuvenation of these sick public entities would help to save billions of rupees funds which could be diverted for the development of education and health sectors.
To a question, Nasreen Jaleel pointed out that awarding bulk of big development projects to the Punjab province was causing resentment among other provinces, adding that the Federal government should also take into account welfare of the small federating units to eliminate their sense of deprivation.
“If Punjab CM Shahbaz Sharif is allowed to receive foreign assistance directly, the privilege should also be allowed to other provinces as well,” she stressed.
Commenting on the government’s performance, Nasreen Jaleel averred that the government had inherited financial crisis, adding that its performance in this regard remained satisfactory over the last one year. “Appreciation in the value of rupee is a good omen although it has affected our exports in a negative manner,” the MQM senator remarked, adding that its benefits, however, in the long run would be greater.
“To promote and strengthen the tax culture, Information Technology should be fully availed and utilised and all private and government institutions should be inter-connected through e-link,” the Senate Standing Committee chairman suggested, adding that it was time for the nation to wake up and think as to how the country could be develop without promoting the tax culture.
Nasreen Jaleel described Karachi as the economic lifeline of the country, warning that the country would continue to loss precious revenue if the terrorism was not eliminated.
We are in the midst of a dangerous situation, surrounded by multifarious crises and concrete planning is required to steer the country out of the quagmire,” the Senate Standing Committee chairman concluded.
