Senate forwards 55 budget recommendations to NA
- By Web Desk -
- Jun 20, 2023
Senate has forwarded 55 budget recommendations to the National Assembly (NA) for the fiscal year 2023-24, ARY News reported on Tuesday.
Senate opposed the imposition of Rs2,000 duty on existing traditional fans and recommended giving more time to the fan industry for its technological modifications.
The Upper House recommended maintaining the sales tax rate at 12% besides opposing the hike in tax ratio on the payments via credit cards. It has been recommended to maintain 1% tax for filers on credit card payments and 5% for non-filers.
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It added that the laptop scheme should be linked to the technical training. It further stated that the enforcement of taxes should be made in phases for the real estate and agriculture sector.
The Senate recommended expediting the privatisation of the loss-making government entities including Pakistan International Airlines (PIA), Pakistan Steel Mills (PSM) and others.
It has been recommended to grant tax relaxations to the export-oriented industrial sector besides ensuring subsidies on seeds, fertilizers and solar energy equipment.
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It was recommended to ensure the availability of essential commodities at discounted prices at the outlets of the state-owned Utility Stores Corporation (USC) across the country.
Senate recommended allocating funds for Pakistan Qaumi Razakar (PQR) program.
For the health sector, the Upper House demanded to increase allocations in the budget 2023-24.
The Upper House demanded to remove 20% Customs duty on imported sports items. It also demanded to reduce taxes on the construction agreements.
The other recommendations include:
- Income tax on the IT sector should be reduced
- Difficulties in tax refunds should be addressed
- Super Tax should be eliminated
- 2 KV generators should be made tax-free
- TV fees in electricity bills should be increased from Rs35 to Rs50
- 5% radio tax should be imposed at the time of vehicle registration
- Declaring Gwadar a tax-free zone
- Eliminating Federal Excise Duty (FED) on the juice industry
- Allocation of funds for flood-affected areas and people