Despite clear instructions from Prime Minister Imran Khan, the PM’s historical IT package could not be notified due to delays from the Federal Board of Revenue (FBR).
Sources told ProPakistani that the Federal Board of Revenue has not yet prepared a tax exemption ordinance for the implementation of the Prime Minister’s special package for the IT industry.
After the announcement from PM Imran Khan, FBR was asked to prepare the ordinance and send it to the president’s house, but despite clear instructions, FBR has not moved forward. Due to FBR’s delay tactics, the IT package has come to a standstill.
According to sources, the Prime Minister’s House repeatedly instructed the FBR to prepare an ordinance and expressed strong resentment at the FBR for employing delaying tactics, but the FBR did not respond. The sources claimed that the FBR and SBP were not happy with the special IT package announced by the Prime Minister. Therefore, FBR put the matter on hold until the National Assembly session convened for a vote of no confidence against the prime minister.
Now, the National Assembly is in session, therefore, the president cannot issue an ordinance, and if the government leaves through a no-confidence motion, the IT package will not be implemented. IT ministry officials said that the Federal Minister of Information and Technology (IT), Syed Amin Ul Haq, and Secretary IT, Sohail Rajput, are in touch with FBR and the Finance Division and a solution will be found soon.
Prime Minister Imran Khan approved a special package in a high-level meeting held at the Prime Minister House on 22 February this year. In which, tax exemptions were announced for IT companies, freelancers, and startups. PM directed to allow IT companies and Freelancers to retain 100 percent of remittances received through proper banking channels, without any compulsion to convert them into Pakistani Rupee. Hundred percent capital gain tax exemptions were also announced for IT startups.
