Taking serious notice of the reduction in age limit for importing reconditioned vehicles, the Public Accounts Committee on Thursday called the move an open violation of its decision regarding import of reconditioned vehicles that were five years old.
Federal Board of Revenue Secretary Israr Rauf told the body that reducing the age limit of reconditioned vehicles for import resulted in revenue loss of Rs 17 billion. Committee Chairman Nadeem Afzal Gondal condemned the recent report issued by Transparency International and challenged it to debate the particular report in the sitting of PAC.
While reviewing the audit objections and paras in connection with the Pakistan Tourism Development Corporation (PTDC), committee directed the department concerned to ensure recovery of all loans from the government officers, or else block their Computerized National Identity Cards. Committee member Saeed Zafar raised a point that a sub-committee of Public Accounts Committee had earlier recommended extending the age time of recondition vehicles from three years to five years in connection with their import, however, the suggestion was violated by again reducing the age limit from five years to three years. He demanded fixing responsibility on those who violated the directions issued by the PAC. FBR Secretary Israr Rauf said the NA standing committee on finance was taking up the issue and was in process of reviewing the matter. He was of the view that the Ministry for Industries took approval from the federal cabinet for the current decision, however, local auto industry had not achieved the position of a manufacturing. PAC directed the officials concerned to summon a joint sitting of the public accounts body and finance body to review the issue jointly.