ISLAMABAD: Finance Minister Ishaq Dar presided over a meeting of the FBR authorities and representative of the beverage companies to discuss revenue collection under the capacity tax rules.
The finance minister observed that the capacity system had been introduced in the last budget to allow the industry work freely, without unnecessary interventions from the department while duly contributing to the national exchequer.
On the occasion, the FBR chairman presented revenue performance of the aerated water industry during the first half of the current fiscal year and suggested various options to meet the projected targets. The industry representatives reaffirmed their commitment to increase their net tax payment by 25 percent and continued with the capacity system. However, there was some difference of opinion on the modalities for meeting the targets. Accordingly, it was decided to hold the next meeting on Wednesday (February 19).
Meanwhile, Finance Minister Senator Ishaq Dar chaired a meetings of the Grey Traffic and Spectrum Auction Advisory Supervisory Committee. The meeting was also attended by Minister for Science and Technology Zahid Hamid, Minister of State for Information Technology Anusha Rehman, IT Secretary Dr Syed Ismail Shah, Pakistan Telecommunication Authority Chairman, Ikhlaq Tarrar and senior officials.
On the occasion, the PTA chairman briefed the meeting on the measures taken to curb the grey traffic and informed that 14 percent increase in white traffic had been witnessed in the month of January 2014 as compared to December 2013. During this period 40,000 suspected IPs were blocked.
In the meeting of Spectrum Auction Advisory Supervisory Committee progress regarding the auction process was highlighted by the PTA chairman. The committee was also informed regarding the discussion which Ministry of IT and PTA delegation had during road shows/meetings in Saudi Araiba and Qatar early this week.