Economic Coordination Committee (ECC) of Federal Cabinet has approved a tender for the import of 120,000 tonnes of wheat in addition to tax and duty exemptions on the import of auto-disable syringes and locally produced syringe raw materials/products.
The meeting of the ECC, chaired by Finance Minister Shaukat Tarin, based on the recommendations of the Ministry of Food Security and Research, approved a proposal to purchase 120,000 tons of wheat in accordance with a government decree for 4 million tons of wheat. Wheat to build strategic reserves in the current fiscal year.
The committee asked the chairman of the Trade Corporation of Pakistan (TCP) to speed up wheat imports to stabilize domestic prices and ensure uninterrupted wheat supplies throughout the country. The Minister of Finance also called on the Director of the Technical Cooperation Program to provide the Trade Advisor with a detailed report on the wheat import schedule and other necessary details as soon as possible.
The ECC also approved a summary presented by the Chairman of the Federal Tax Service (FBR) on Strengthening the Inland Revenue Enforcement Network (IREN) for selected products to combat tax evasion and evasion through a tracking and tracing system. It was stated at the meeting that IREN will also check goods delivered from the former Fata / Pata territories for suitability and suitability.
The finance minister said the FBR should build goodwill and avoid interfering with the enforcement of rules and regulations for the collection of taxes and fees. At the same time, he added, the FBR is taking tough measures to prevent tax evasion and expand the tax base of the national treasury.
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