Committee takes up Finance Bill 2020.

Islamabad -- The Standing Committee on Finance, Revenue and Economic Affairs in its meeting held on Thursday took up the Finance Bill 2020, containing the Annual Budget statement presented in the House on 12 June, 2020. Amendments made to the Public Finance Management Act, the Income Tax Ordinance, 2001 and the anti-Dumping Law were reviewed.

Chaired by Senator Farooq Hamid Naek, the meeting was attended by Senator Mohsin Aziz, Senator Muhammad Akram, Senator Zeeshan Khanzada, Senator Musadik Masood Malik, Senator Mian Muhammad Ateeq Sheikh, Senator Senator Talha Mehmood, Senator Ayesha RazaFarooq, and senior officers from the Ministry for Finance, Revenue and Economic Affairs, Ministry of Commerce and Federal Board Revenue.

Deliberating over the amendments in the Public Amendment Finance Act, 2019 the Committee discussed amendments pertaining to various clauses. Budget Strategy Paper, Budgeting and Accounting Framework, Annual Budget Statement, Plan based on Government's Expenditure, Performance Based Budget, Surrender of Savings, Expenditure from Federal Consolidated Fund and Public Accounts, Cash Management , Government Banking Arrangements, Special Purpose Funds and Power to make Rules were discussed in detail. Some clauses were deferred for further deliberation.

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