Senate body rejects GST hike, other new taxes

ISLAMABAD (NNI): Senate Standing Committee on Finance has rejected the proposal to enhance general sales tax from sixteen to seventeen percent in the budget.

The committee‚ which met in Islamabad under the chairman ship of Nasreen Jalil approved various proposals for including in the new federal budget.

These proposals include imposition of 5 percent tax on non-registered industrial and commercial electricity consumers‚ imposition of five thousand rupees tax on Tour operators for Hajj and Umrah‚ imposition of 200‚000 rupees tax on private educational institutions and imposition of agriculture tax in Islamabad Capital Territory.

The committee rejected the proposal to enhance general sales tax from sixteen to seventeen percent. It also suggested to exempt government employees income up to 500‚000 rupees from tax.

Secretary Finance Waqar Masood told the committee that two percent additional tax on unregistered petrol pumps has been withdrawn and these stations have been two weeks time for registration.

Member Standing Committee Farharulla Babar said the defence ministry acquired 24 Acres of land in Nowshera 35 years ago but no compensations had been paid so far.

He demanded of the finance ministry and defence ministry to pay the compensation to the heirs as the original owners of the land had passed away. NNI