Finance Committee Advances Amendments to Key Legislation

Islamabad: The Standing Committee on Finance and Revenue convened on Saturday under the leadership of Mr. Naveed Qamar to review proposed legislative amendments. The committee recommended the passage of revisions to The Stamp Act, 1899, while allowing the withdrawal of amendments to The Registration Act, 1908. The review of The Income Tax Ordinance, 2001, continues.

The meeting, held in Committee Room No. 02 at Parliament House, began with a recitation from the Holy Quran. The committee proceeded to examine various legislative proposals on its agenda.

Key among the discussions was The Stamp Act, 1899, where the committee after thorough deliberation, recommended that the proposed amendments be forwarded to the Assembly for approval.

On The Registration Act, 1908, the Ministry expressed its intent to retract the proposed amendments. The committee agreed to this withdrawal.

In reviewing The Income Tax Ordinance, 2001, the committee approved certain amendments and suggested additional corrections. However, due to time constraints, consideration of the remaining provisions was postponed to the next meeting.

The session was attended by several notable members of the National Assembly, including Mr. Omer Ayub Khan and Dr. Nafisa Shah, along with officials from the Ministry of Finance and Revenue, and the Chairman of the Federal Board of Revenue.

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