National Assembly’s Standing Committee on Finance, Revenue, Economic Affairs, Statistics and Privatisation on Wednesday discussed the proceeding of “The Banks (Nationalization) (Amendment) Bill, 2015 (Government Bill)” and directed the authorities concerned to make appropriate amendment as per the proposal of the State Bank of Pakistan (SBP).
The committee chaired by Qaiser Ahmed Sheikh directed that the re-drafted bill should be presented in next meeting of the committee to be held on January 12.
Meanwhile, Federal Board of Revenue (FBR) Chairman Nisar Muhammad Khan briefed the committee about income tax on commercial and industrial imports.
Chairman of the committee stressed the need for lowering the difference between the ratio of income tax on commercial and industrial imports.
He said that due to high ratio of income tax on commercial imports, the traders usually traded by getting an industry licences.
Qaiser Sheikh directed Secretary Finance Dr Waqar Ahmed to brief the committee about the current situation of overall economy of the country in the next meeting.
Governor SBP Ashraf Wathra, Members of National Assembly Daniyal Ahmed Aziz, Muhammad Pervaiz Malik, Dr Nafisa Shah, Murad Saeed and Muhammad Ali Rashid also attended the meeting.