Finance Bill 2024: Senate proposes 128 recommendations to National Assembly

• 69 out of 128 recommendations related to budget 2024-25.
• Senator Mandviwalla tables Senate’s budget recommendations.
• Senate’s recommentations to be reviewed, implemented: finance czar.

The Senate on Monday proposed a total of 128 recommendations including nine about the Public Sector Development Programme (PSDP) for the year 2024-25 to the National Assembly for inclusion in the Finance Bill 2024.

The recommendations on the Finance Bill 2024 would be forwarded to the National Assembly which would decide whether or not these recommendations are to be incorporated into the Money Bill.

Out of a total 128, some 69 were related to general recommendations on budget 2024-25, eight to Custom Act, 1969, 23 to Sales Tax Act, 1990, 15 to Income Tax Ordinance, 2001, three to the Federal Excise Act, 2005, and one in Abandoned Properties.

Chairman of the Senate Standing Committee on Finance Saleem Mandviwalla presented the Senate’s budget recommendations which were adopted by the House.

Earlier, speaking on the floor of the House, Mandviwalla said that they were given six days instead of 14 to go through the budget document and prepare recommendations for the lower house of the Parliament.

He said that some 32 associations, chambers of commerce from all provinces and members of the civil society including education, medical, retail, automotive and others met the finance committee and gave their feedback.

He went on to say that out of the total Rs18.9 trillion budget, some Rs9.75 trillion were to be paid in interest and debt repayments while Rs2.63 trillion was to be borrowed to make up the budget deficit.

The Senate body’s chairman said that 2.9 million non-filers were left at large by the authorities who should be brought into the tax net to increase revenue instead of burdening the poor masses.

Mandviwalla added the committee unanimously rejected an increased tax on the low-tiered salaried class and also the one imposed on baby milk.

He said for the first time persons with disabilities who served in public departments came to the forum and presented their grievances.

The disabled persons claimed that they were ignored in the budgets passed in the past decade, he said.

He said the committee proposed the government to allocate special allowances, negotiate with them and listen to their problems.

Charity hospitals should be given incentives and charging fees to the masses should be taxed, he added.

He said for the first time taxes were imposed on school children's books and stationery items whereas the general public and stakeholders demanded to abolish and the committee also supported their demand.

Mandivalla urged the entire house to quit politics on Pakistan's economy.

“If this practice continues then the next budget would be the worst,” he said.

He said that all the political parties have to sign a genuine charter of economy on the pattern of the charter of democracy signed by the political leadership to protect democracy from derailment.

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb said on Monday that the Budget 2024-25 recommendations and revenue measures from the senate will be reviewed and implemented.

Aurangzeb said this while participating in the Budget 2024-25 debates here in the Senate of Pakistan.

The finance czar said that Senator Mandviwalla and other senators have given recommendations and the revenue measure will also be discussed in the house.

He said that these recommendations by senators will also be discussed in the session of the National Assembly tomorrow (Tuesday).