New arrangement needed for promoting pioneer industry: Senate informed


ISLAMABAD April 19 (APP): The Senate was informed Wednesday that a new arrangement was needed for promoting pioneer industry of Engineering Sector.
Minister for Commerce Khurram Dastgir Khan responding to a motion
on the subject, informed the House that after amendment in
Finance Bill, sales tax law and Customs Law in 2015, a new
arrangement was needed to promote pioneer industry.
He said earlier, there had been a provision of declaring
the initial industry in engineering sector as a pioneer industry
but under the new law the situation had changed and a
new arrangement would be needed for the purpose.
Minister for Industries Ghulam Murtaza Jatoi also informed
the House that re-structuring of the engineering sector was required
as the government endeavors to improve quality and ensure better
price for consumers for engineering goods.
Earlier speaking on the motion, Senator Ateeq Sheikh said, there
is need for developing engineering sector to fully benefit
from upcoming Special Economic Zones.
He claimed that FBR had disagreed with the government
proposal for promoting the pioneer industry of Engineering Sector as
he also mentioned to emergence of the cartel in automobile sector due
to not promoting the engineering sector.
The Commerce Minister dispelled the impression of FBR’s
disagreeing with the government’s proposal of promoting the
pioneer industry of Engineering Sector.
Khurram Dastgir said it was not the matter of disagreement by
the FBR but it is related to Finance Bill 2015 in which
these provisions were amended.