The National Assembly’s Standing Committee on Finance and Revenue was informed on Friday that there has been a decline in the growth of customs and sales tax collection in the current financial year 2022-23 (FY23).
The meeting of the Standing Committee on Finance and Revenue of the National Assembly was held at the Customs House Karachi under the chairmanship of MNA Qaiser Ahmed Sheikh.
The committee was briefed by officials of the Revenue Department on efforts to enhance revenue collection and various matters concerning it. The committee was informed that there has been a decline this year in the increase in customs duties and the collection of sales taxes. The committee asked for issues related to the application of surcharge and removal of duties on certain luxury electric vehicles.
The committee also visited the Karachi Port Trust (KPT) to review the port clearance mechanism and discuss various issues faced by the businesses.
The committee was informed that discussions are ongoing with South Korea for the construction of a dedicated elevated expressway by the KPT for traffic facilitation and efficient operation. The committee decided to convene a joint meeting of the Maritime Affairs and Finance and Revenue committees to find solutions to problems faced by both agencies.