Islamabad: The Senate Standing Committee on Finance and Revenue convened under the chairmanship of Senator Saleem Mandiwalla. The meeting was attended by Senators Farooq Hamid Neak, Syed Shibli Faraz, Anusha Rahman Khan, Fesal Vawda, and Zeeshan Khanzada.
The meeting discussed the Income Tax Amendment Bill, 2025 introduced by Senator Zeeshan Khanzada. While the bill was deferred, after discussion and input by Mr Jam Mahtab DG Draftsman from Law Ministry, the matter was referred to the Speaker for clarification, to ascertain its status as money bill or otherwise
One of the most pressing issues discussed was the ongoing crisis at the Pakistan-Iran border, where over 600 trucks carrying trade goods have been stuck due to customs officials demanding court orders. The committee reiterated the urgency of resolving this matter, emphasizing the severe financial and economic losses faced by traders and the nation.
The Iranian representative explained that each truck carries goods worth approximately $11,000. The delay is costing traders about $100 per day per truck, which ultimately raises the price of goods for consumers. Furthermore, the drop in the number of trucks crossing the border in the past six months has led to an estimated daily economic loss of $2.2 million.
Senators expressed deep concern, with committee members emphasizing the importance of resolving this issue swiftly. The committee decided to write a letter to the Prime Minister urging him to take the matter in the next cabinet meeting.
Senator Saleem Mandiwalla remarked, “This issue has reached a critical point. It is not only a matter of economic losses but also a matter of national pride. The situation is deeply concerning for the country as a whole.”
It was also highlighted that new regulations, such as the requirement for a certificate of origin, have contributed to the congestion and delays at the border. The committee directed that a letter be sent to the Secretary of Commerce for further clarification on whether goods not manufactured in the originating country could still qualify for trade under the barter system.
The committee also discussed the lack of an official banking channel between Pakistan and Iran, which complicates financial transactions and further delays the movement of goods. A suggestion was made to include Pakistani importers and clearing agents in the process to help facilitate smoother transactions.
Another critical matter addressed was the misdeclaration of goods by M/s MH Traders, which had filed Goods Declarations (GDs) for PU Artificial Leather under an exemption scheme. The Customs Department flagged discrepancies in the declarations, revealing that the goods were misclassified as “PU Artificial Leather,” whereas laboratory tests indicated that the goods were, in fact, textile non-woven fabric and synthetic polymer materials.
The committee recommended the petitioner to follow the process and directed FBR to look into the matter , review their facilities to ascertain the factual position
The committee also discussed issue of non payment of subsidy to steel sector by KESC particularly the incremental subsidy that has been applied unevenly to power generators. There was criticism over the subsidy process and its lack of transparency.
Senator Syed Shibli Faraz said, The process of materializing these subsidies lacks consistency and fairness. It is essential that the government ensure equal treatment for all industries.”
In response, the committee decided to refer the matter to the concerned Power Divisions for further investigation and to ensure fair and transparent distribution of subsidies.