Senate panel rejects amendment to introduce Authorised Economic Operator programme.

Byline: Mubarak Zeb Khan

ISLAMABAD -- The Senate Standing Committee on Finance on Wednesday rejected three key proposals of the Finance Bill 2020 and asked Federal Board of Revenue (FBR) and Ministry of Maritime Affairs top officials to identify real beneficiaries of the proposed amendments.

The committee led by Senator Farooq Hamid Naek also gave a deadline to Maritime Affairs secretary to disclose names of contractors and sub-contractors of the Gwadar free zone areas, who are being considered for duty exemptions for a period of 40 years.

Committee members were unsatisfied with secretary's explanations who tried to justify the exemptions. On the intervention of Senator Mohsin Aziz, the committee asked secretary to provide contractors and sub-contractors names to the committee.

The secretary was also asked to present the Gwadar port handling agreement with the Singaporean company in 2007 which was later sold to a Chinese company in 2013. 'We need the copies of two original agreements,' Mr Farooq H Naek said.

He also asked the secretary to present names, details of ownership of contractors, sub-contractors, resolution of National Assembly rejecting exemption to Gwadar port free zone and ordinance copy under which tax exemptions were given.

Senator Dr Musadik Malik said there should be transparency in everything while adding that the government should not amend the original agreements to give 'benefits' to certain people. Senator Ms Ayesha Raza also seconded his concern and said the committee was misguided on the issue of duty exemptions to Gwadar free zone area.

'I will try my best to bring all these documents to the committee tomorrow', maritime affairs secretary said. However, senators strongly recommended that...