National Assembly Standing Committee on Finance met under the chair of MNA Syed Naveed Qamar to review Finance Bill 2025-26, reported 24NewsHDTV Channel.
MNA Naveed Qamar questioned FBR chairman to brief the participants how much revenue will be received from carbon levy.
Finance Ministry officials said carbon tax will generate a total of Rs 45 billion. If this becomes a carbon tax, how much tax will the center get, Naveed Qamar questioned.
State Minister for Finance told the meeting that if levy becomes tax, the center will get Rs 18 billion. Mirza Ikhtiyar Baig said if there is a levy, only the center will get it. If there is a tax, the provinces will also get a share.
“We cannot give relief to anyone in sales tax”: Chairman FBR. Finance Minister Aurangzeb said there is no room for amnesty and concessional schemes in the budget.
“Everyone will have to pay their share of taxes”, Finance Minister made it clear during the meeting.
Opposition leader Omar Ayub said that measures for each coming financial year are being tightened further. He questioned how many electricity and gas connections have been cut so far?
FBR chief said electricity and gas meters are not in the names of people. He said FBR seeking power to control those who are not ready to register.
MNA Naveed Qamar suggested that business people should be treated gently. FBR chief said that FBR will send notices to the businesses and later the matter will be sent to committee which will decide on it.
NA Standing Committee on Finance also approved carbon levy proposal. Moreover, proposal to remove 10pc limit on debit service surcharge on electricity consumers was also approved. The committee recommends tax exemption for local cotton under Export Facilitation Scheme.
NA Committee rejects proposal to impose levy on small vehicles. MNA Naveed Qamar said the government is imposing levy on vehicles emitting smoke.