Senate Standing Committee Finalizes Report on Finance Supplementary Bill 2021

The Senate Standing Committee on Finance, Revenue, and Economic Affairs, on Tuesday, finalized a report on the Finance (Supplementary Bill), 2021, in the committee.

A meeting of the Senate Standing Committee on Finance, Revenue, and Economic Affairs met on Tuesday to deliberate upon the report of the Finance (Supplementary Bill ), 2021, which was earlier referred by the House in its sitting held on 4 January 2011. The committee was presided over by Senator Muhammad Talha Mahmood at the Parliament House.

Senator Talha Mahmood said that as the committee chairman, he has fulfilled the constitutional requirement on the process of the bill by making painful decisions. “I pray that the apprehensions of the committee prove infructuous and the wisdom of the government, the Federal Board of Revenue, and the ministry, behind the imposition of the new tax policies, prove prolific,” he added.

The committee chairman thanked all the committee members for vetting the bill at length in the larger interest of the general public. He reiterated that the committee strongly believes that the bill will bring a tsunami of inflation in the country since the basic needs are being inflated by the imposition of taxes on commodities in the usage of the common man.

The committee chairman also apprehended that the refund system, which is made to be the basis of the new Finance Bill, is unrealistic and impractical. “All the money will be dumped in the government’s treasury” he stated, adding, “It will further widen gap between the business community and institutes,” he further added.

The committee unanimously endorsed the views of Senator Sherry Rehman and Dilawar Khan for evolving a mechanism of voting on the Senate recommendations

Clause-wise reading of the report was considered by the committee members and made appropriate amendments.

The meeting was attended by the Leader of the House in the Senate, Dr. Shazad Waseem, Senators Saadia Abbasi, Sherry Rehman, Saleem Mandviwalla, Dilawar Khan, Mohsin Aziz, Faisal Saleem, Saleem Sabzwari, and Musadik Masood Malik, along with officials of the attached departments.

Faiz Paracha is a seasoned broadcast journalist with over 15 years’ experience in reporting and e...



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