ISLAMABAD, Oct 03 (APP):Minister for Finance Asad Umar on Wednesday said that China Pakistan Economic Corridor (CPEC) project was planned and being implemented bilaterally under the strategic responsibility of only two countries.
Speaking at the Upper House of the Parliament, the minister made it clear that the investment of Saudi Arabia government was discussed with the Chinese delegation that appreciated the idea and expressed their willingness to have such investment in Pakistan under CPEC.
Responding on the suggestions of Senators on amended Finance Bill, 2018, the minister said that the
government had made changes in clause-1, 2 and 4 related with the taxation under which it will be implemented from July 1st not from next year. He said that the under this Bill, the government has made some modification regarding tax filer or non filer.
He said that the restriction imposed in the federal budget on non filers on purchase of property and vehicles would continue in the Supplementary Budget also with three exemptions. He said that the recommendations forwarded by the parliament to restrict non-filers to purchase assets had been incorporated in the Finance Supplementary (Amendment) Bill, 2018 with three amendments. He added it was accepted the recommendations on the restriction on non-filer to purchase assets with some amendments.
As per the amendments, he said, the overseas Pakistanis
sending their remittances through legal means will be allowed to acquire
property and vehicles in Pakistan would be exempted.
He said those purchasing vehicles of capacity less than 200-CC
would also be exempted from this restriction. Fine would be imposed if someone
acquires property or vehicle despite being non-filer.
He
said that it was decided that there is a need to impose more taxes on high income
group with good spirit. He said that it was also decided that five more years
will be given as concession to FATA regarding taxation.
He
said that the decision was made as there was no clear status of tax exemption for
FATA after FATA Integration Bill approved by the past parliament in its last
days.
The
minister said that although the provincial government has right over Reko Diq
and Coaster Refinery but the federal government can play role as facilitator for
the Balochistan government.
He
added on loosing case on Reko Diq from arbitration tribunal, the Saudi Arabia government
had offered some solution of the matter which was discussed with the
Balochistan government.
He
said that during visit of Saudi delegation to Gwadar, the representatives of
Balochistan government were there. He made it clear that the government will
not go against the constitution in implementation of agreements and fully
respect the rights of provinces.
He
said that the past government had not taken the provinces into confidence on MoU
with the Chinese government in 2013 however the present government will not repeat
this practice and give respect to the rights of provinces.
He said that under FATA Integration Bill,
there was commitment of giving share of additional Rs 100 billion to FATA in 10
years. He added this will do with National Finance Commission award and asked
to nominate representatives of provinces.