Ijaz Kakakhel Islamabad
The Upper House of parliament on Monday made fifty-five recommendations to the National Assembly for inclusion in the Finance Bill 2023-24.
These proposals were prepared by the Senate’s Standing Committee on Finance, which were adopted by the House Monday. The suggestions encompassed steps to improve the financial position of Radio Pakistan. The upper house recommended to the National Assembly that the TV fee being collected from every household through electricity bills be raised from thirty-five rupees to fifty rupees per month.
It proposed that this increase of fifteen rupees in electricity bills should be given to Radio Pakistan to help the organization meet its financial needs. Additionally, the House recommended that a Radio Licence Fee at time of registration of every new vehicle in Islamabad Capital Territory be levied. It also recommended the imposition of a fixed amount of five hundred rupees on renewal of token of the vehicles.
The Senate also recommended maintaining tax on credit card transactions at previous rates instead of increasing it one percent to five percent for filers and two to ten percent for non-filers.
The House recommended that tax on real estate and agriculture sector should be introduced gradually so that the taxpayer may not be overburdened by implementation of the new tax slabs.
It recommended that availability of all items on subsidized rates at Utility Stores should be ensured.
The House recommended that budget allocations for the health sector should be increased to produce more doctors and paramedical staff. It recommended that custom duty should be abolished/removed on the import of the sports items which are not manufactured in Pakistan.
The Senate recommended to abolish Super Tax imposed since tax year 2015. It recommended that for development of Information Technology sector, Foreign Exchange Retention in Pakistani bank accounts should be allowed. The House recommended allocating four billion rupees for the Pakistan Software Export Board in the federal budget.
