ISLAMABAD: Finance Minister Ishaq Dar reviewed on Friday the measures and proposals regarding the second phase of withdrawal of the concessionary regime (SROs).

Chairing the meeting of a high-level committee on regularisation of the regime in the spheres of customs, sales tax and income tax, Dar expressed the hope that the committee would come up with positive recommendations.

The first phase was completed last year, whereas the final phase would be undertaken in the fiscal year 2016-17.

The meeting was also attended by Board of Investment (BoI) Chairman Miftah Ismail, Adviser Finance Division Rana Assad Amin, FBR Chairman Tariq Bajwa, Federation of Pakistan Chambers of Commerce and Industries President Mian Mohammad Adrees and others.

Finance Minister Ishaq Dar, it may be recalled while highlighting in budget speech 2013-14, had The finance minister announced establishment of the committee in his budget speech 2013-14, highlighting complexities in the tax system arising out of discriminatory exemptions/concessions.

Bosan meets Dar

Separately, Federal Minister for National Food Security and Research Sikandar Hayat Bosan met Dar and presented proposals to be incorporated into in the upcoming budget to help the agriculture sector and ensure food security.

Dar said that although agriculture has been a devolved subject after the 18th Amendment, “the federal government is ready to extend every possible co-operation to the provincial governments and the Ministry of Food Security for the uplift of the sector”.

Bosan presented suggestions related to farm mechanisation, development of dairy and poultry industry in Pakistan and suggestions regarding reducing the cost of production for the farmers.

He also requested the finance minister to help create a liaison between all provincial agriculture ministers for the sector’s development.

Published in Dawn, May 23rd, 2015

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