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RD imposed on 731 items: FBR directed to address stakeholders’ concerns

RD imposed on 731 items: FBR directed to address stakeholders’ concerns

ISLAMABAD: Senate Standing Committee on Finance and Revenue on Thursday directed Federal Board of Revenue (FBR) to address the concerns of the stakeholders on the recently imposed regulatory duty (RD) on imported commodities within 15 days.

The committee, which met under the chair of Senator Saleem Mandviwalla, has discussed the recently imposed RD on 731 imported commodities. The Ministry of Commerce and FBR presented different viewpoint on the imposition of RD on imported commodities to control soaring imports.

The Ministry of Commerce additional secretary informed the committee that FBR has imposed RD on commodities, which were not recommended by the ministry. The committee noted that different associations had shown concerns over the imposition of RDs on imported commodities, which should be addressed. The committee recommended that FBR should address the concerns of the stakeholders with the consultation of Ministry of Finance. The FBR should present its report within 15 days, the committee directed.

The committee also suggested the government to further review the bill to amend the Auditor General’s (function, powers, terms and condition of service) Ordinance 2001, which was passed by the National Assembly.