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PESHAWAR, May 22 (APP):Advisor to the Chief Minister Khyber Pakhtunkhwa on Finance and Interprovincial Coordination Muzzammil Aslam on Thursday supervised a consultative meeting at Sarhad Chamber of Commerce ahead of the upcoming budget.
The meeting was attended by Provincial Minister for Excise Mian Khaliq ur Rehman, Special Assistant to CM for Industries Abdul Karim Tordher, Secretary Excise Khalid Ilyas, Director General Khyber Pakhtunkhwa Revenue Authority (KPRA) Fauzia Iqbal, Additional Collector Abdur Razzaq khan and officials from the Revenue department.
Cabinet members of the Sarhad Chamber of Commerce, along with traders, industrialists, and investors, participated in this special consultative meeting. Advisor Finance Muzzammil Aslam stated that Khyber Pakhtunkhwa is financially dependent on the federal government for 93 percent of its budget, and the province itself collects only 7 percent of its total revenue. He noted that revenue collection in Khyber Pakhtunkhwa is lower compared to other provinces.
He further mentioned that the provinces are also under pressure from the International Monetary Fund (IMF), and Khyber Pakhtunkhwa has increased both tax and non-tax revenues in the current fiscal year.
Muzzammil Aslam announced that Rs. 2 billion has been released for the Peshawar Safe City Project and assured that all legitimate concerns of traders and industrialists would be addressed. He said that last year, the property rental tax was reduced from 16% to 10%, and taxes on educational institutions have been fixed at a very low rate. Similarly, the property transfer tax was brought down from 6.5% to 3.5%, and vehicle registration fees in Khyber Pakhtunkhwa are lower than in other provinces.
Provincial Excise Minister Mian Khaliq ur Rehman said that a universal number plate scheme has been launched for vehicle registration, and every Tuesday will be observed as Open Day by the Secretary Excise, during which public issues will be addressed.
Muzzammil Aslam also mentioned that an amnesty scheme is under consideration to reduce outstanding dues on factories prior to 2020. He added that every possible support will be extended to provide better facilities to traders and industrialists, and some of their issues are already being resolved on the spot.
The Provincial Excise Minister further stated that legal action will be taken against officials who unjustly harass traders and industrialists.