Federal Minister for Finance Senator Muhammad Aurangzeb Thursday informed the National Assembly that there is no new legislation under consideration to extend tax and duty exemptions for the erstwhile Federally Administered Tribal Areas (FATA) and Provincially Administered Tribal Areas (PATA) regions.
In response to a calling attention notice regarding the proposal to withdraw tax and duty exemptions for these regions, the minister explained that these exemptions had been in place for six years and are now set to expire on June 30.
The minister said the business community has advocated for a level playing field for all industries. He said that the business community consistently requests the removal of provincial tax treatment and concessions, seeking equitable conditions for industries across the country.
Meanwhile, various papers were laid before the house. These included the Report of the 1st biannual Monitoring on the Implementation of the 7th NFC Award, the Mid Year Budget Review Report for the Financial Year 2023-24, the Fiscal Policy Statement 2024, the Debt Policy Statement January 2024, the Performance Monitoring Report for the current fiscal year and Audit reports of the Auditor General of Pakistan relating to the Accounts of the Federation for the years 2021-22 and 2022-23.
