Finance Minister dissatisfied with slow pace of agri tax legislation

Finance Minister Muhammad Aurangzeb has expressed dissatisfaction with three provinces’ delay in passing new agriculture income tax laws. This new legislation is one of the conditions agreed upon with the International Monetary Fund as part of the 37-month $7 billion Extended Fund Facility. The finance minister reviewed several tax initiatives during the National Tax Council (NTC) meeting on Wednesday, which was held after an 18-month break. The minister also asked the finance ministry to host NTC meetings every three months to assess progress on different tax policies. According to an official source who attended the meeting, the finance minister expressed dissatisfaction with the poor pace of passing agricultural income tax laws by Sindh, Khyber Pakhtunkhwa, and Balochistan. The meeting was informed that the KP government had approved the bill, but it had yet to be tabled before the assembly.