Solar panels: Pakistan govt mulling withdrawing ST exemption
FBR Chairman was responding to a query of a member of the Senate Standing Committee on Finance during meeting held at the Parliament House.
He stated that the FBR is working on proposals to withdraw all kinds of tax exemption including exemption available on the import of solar panels.
Cabinet halts additional tax on solar power users
Meanwhile, during another meeting of the National Assembly Standing Committee on Finance, the representatives of Refineries briefed the committee that their input was taxed, but on output, there was no GST, causing problems over the last several years. Without resolving this issue, they would not be able to invest $6 billion.
The Chairman FBR, Rashid Mahmood Langrial, said that their business came out of the ambit of the Value Added Tax (VAT) when there was no tax on their output. He said that there were proposals under consideration to impose sales tax on their output or provide them some kind of other permanent solutions.
Chairman FBR has also assured the committee that he will inquire into the matter of recovering over Rs 80 million amounts from KababJee restaurant Karachi.
Member of committee Mirza Ikhtiar Baig raised the issue before the finance committee chaired by Nafeesa Shah.
He informed that FBR has recovered more than Rs 80 million from accounts of this restaurant without giving any chance of hearing in different forums. He has no money to pay salaried and owner of the restaurant has threatened to commit suicide. The business community is pressing me for this harassment by the FBR, Baig added.
The FBR Chairman replied that I did not have knowledge of this particular case. I will update the committee after inquiring about the matter from the relevant field office of FBR.
The committee considered 'The Income Tax (Second Amendment) Bill, 2025'. The Committee expressed concern over the second proviso of the newly inserted clause (3A). The Secretary Revenue assured the Committee that the concerns of the Hon. Members would be addressed and that the words 'and shall cease to have effect after tax year 2025' would be deleted. Upon the assurance given by the Secretary Revenue, the Committee recommended that the Bill, as amended, may be passed by the Assembly.
The Committee considered Starred Question No. 38, moved by Aliya Kamran, MNA, regarding the imposition of Section 99D of the Income Tax Ordinance, 2001, and Starred Question No. 40, moved by Sharmila Sahiba Faruqui Hashaam, MNA, regarding the recent policy shift prioritizing digital currencies, without adequately addressing their regulatory deficiencies. After a detailed discussion the Committee decided to defer both agenda items for discussion in the next meeting of the Committee.
The report on the 'non-implementation of minimum wages, as announced by the Federal Government in its departments', a matter raised by Syed Rafiullah, MNA and referred by the Honourable Speaker, was also deferred due to the absence of the mover.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
a day ago
- Business Recorder
CM for comprehensive plan to support wheat farmers
LAHORE: Chief Minister Punjab Maryam Nawaz Sharif directed the authorities concerned to start a comprehensive plan to support wheat farmers in order to increase production of wheat. She also directed them to take necessary measures to reduce cost of agricultural inputs before wheat sowing in Punjab. She further directed them to ensure abundant availability of fertilizer before wheat sowing. She said, 'Targeted subsidy should be given to small wheat farmers in relief.' The Chief Minister agreed to a proposal to provide interest-free loans of Rs 100 billion to farmers before wheat sowing. She was briefed in detail by the relevant authorities, 'Timely sowing of wheat is essential for better production in Punjab.' She was also apprised, 'A total of Rs 63 billion subsidy was given to farmers in Punjab during two months, and farmers obtained interest-free loans of Rs 50 billion through Kisan Card.' The CM noted, 'A subsidy of Rs 13 billion was given under the Chief Minister's Wheat Support Program, and the use of fertilizers, especially DAP, has increased in Punjab due to Kisan Card Project.' She vowed, 'Wheat farmers will not be left alone, the government will provide full support. Punjab farmers receive the best facilities and government support.' Copyright Business Recorder, 2025
Business Recorder
a day ago
- Business Recorder
NAB recovers Rs 456bn in 2nd quarter of 2025
LAHORE: The National Accountability Bureau (NAB) continues to demonstrate its unwavering commitment to safeguarding state assets and interests of the general public and recovering funds belonging to the national exchequer. The Bureau's relentless efforts are evident through recovery of Rs 456.3 billion during the second quarter of 2025, marking a substantial increase of Rs. 365.29 billion compared to Rs. 91.01 billion recovered in the first quarter of the same year. Out of said recoveries of Rs. 547.31 billion for the first two quarters of 2025, movable and immovable properties worth Rs. 532.33 billion have been disbursed/ handed over to different ministries and departments of federal and provincial governments, as well as, financial Institutions; whereas, 12,611 affectees of different cheating public at large cases have also been compensated. In the past two years, NAB has recovered a staggering total of Rs. 5,854.73 billion (Rs. 5.854 trillion), which is 700 percent more that of Rs. 839.08 billion recovered since the Bureau's inception. This exceptional achievement underscores the hard work and commitment of NAB officers across various regions, who have successfully retrieved billions of rupees from corrupt and unscrupulous elements. Key recoveries and achievements in Quarter 02 of 2025: NAB Rawalpindi recovered 51 kanals of valuable state land worth Rs. 29 billion located in Sector E-11, Islamabad, which has been handed over to the Capital Development Authority (CDA). In a major cheating public at large case (B4U), NAB secured Rs. 3 billion which will be disbursed to 17,214 affectees while, an additional tranche of Rs. 4 billion is expected in the current quarter. In another case of Banker's City, 640 kanals & 11 marlas land of significant value has been transferred to NAB, with proceeds to be distributed among the affected individuals. NAB Sukkur successfully recovered a land worth Rs. 25.079 billion belonging to the National Highway Authority. The Bureau has also recovered 127 kanals & 15 marlas of land valued at Rs. 895.160 million, belonging to the Education and Literacy Department, Government of Sindh. From an impressive recovery portfolio, Rs. 384.270 billion worth of forest land was recovered in the quarter ending June 2025, contributing to a total forest land recovery value of Rs. 1,487.77 billion. NAB Lahore disbursed a tranche of Rs. 3.2 billion, recovered in the Eden case, to 11,880 affectees of the society. In Pak Arab case, eight properties valued at Rs. 3.9 billion were surrendered by the accused and are in the process of transfer to NAB. Proceeds from these assets will be disbursed to 2,500 affectees of the case. A plea bargain amounting to Rs. 2.181 billion is under way with owners of Elite Town Housing Society, with recovered funds intended for disbursement among 1,789 affectees. Currently, NAB is actively coordinating with the revenue departments of all provinces to recover state assets and properties unlawfully held by corrupt elements. Preliminary estimates indicate that state land worth approximately Rs. 5 trillion is under illegal possession and will be reclaimed. NAB's sustained focus on accountability and justice reflects its promise to the nation to protect public resources and deliver tangible benefits to affected citizens. The Bureau calls upon all stakeholders to support this mission to restore transparency and uphold the rule of law. Copyright Business Recorder, 2025
Business Recorder
a day ago
- Business Recorder
Ecnec approves 100MW solar power project for Gilgit Baltistan
GILGIT: Executive Committee of the National Economic Council has approved a one hundred megawatt solar photovoltaic power project for Gilgit Baltistan. Following Ecnec's approval, formal work on the project will commence. During his recent visit to Gilgit, the Prime Minister had announced that Ecnec would soon approve the 100-megawatt power plants for Gilgit-Baltistan. Central Development Working Party has already approved the project. This project will benefit the districts of Astore, Darel, Tangir, Diamer, Ghanche, Ghizer, Gilgit, Hunza, Ishkoman, Nagar, Roundu, Skardu and Shigar. Govt plans to set up 100MW solar project in GB In the first phase, Skardu district will be provided with 18.958 megawatts of electricity. In the second phase, the districts of Hunza, Gilgit and Diamer will be supplied with 6.005 megawatts, 28.013 megawatts and 13.126 megawatts of electricity respectively. In the third phase, the remaining districts will receive 16.096 megawatts of electricity. The project is set to be completed within three years at a total cost of Rs 24,957 million.
