Federal cabinet approves new amnesty scheme
ISLAMABAD (92 News) – The federal cabinet chaired by Prime Minister Imran Khan approved the new amnesty scheme introduced by the government on Tuesday.
Under the scheme, the secret plot and property will be cleared after paying one percent as tax. Moreover, four percent tax will have to be paid on the black money to get clarified. Foreign assets can be legalized to after paying 6% tax.
The law will be applicable through the presidential ordinance.
Under the scheme, prize bonds and bearer certificates cannot be cleared. Only registered and declared bonds and certificates will be considered white money.
The benefit gained would be nullified after a false statement is proved. Under the scheme, the particulars of the people declaring their assets would not be made public. Before declaring the bond certificates, foreign assets must have to be declared. The money in foreign banks will have to be deposited into a bank.
After June 30, two percent tax will be levied after paying two percent, while it will be four percent after December 31. However, three percent tax will be levied on amounts of sales.
The money clarified under the amnesty scheme cannot be shifted or gifted to any public office holder.
Meanwhile, the Attorney General for Pakistan made a detailed presentation to the cabinet about the progress made in cases pending in the International Courts/Arbitration forums and suggested future course of action.
The cabinet was informed that from 2008 to 2018, the government had paid an amount of US$ 100 million in lawyers’ fee in various cases while another US$ 10 million is to be paid this year in lawyers’ fee. It was decided that legal advisors will be appointed in the main ministries including Ministry of Power, Petroleum, Communications, etc. Besides, measures would be taken to strengthen the office of the Attorney General to enhance its capacity to vet Contracts/Agreement.
The cabinet discussed at length the prices of essential items. The Secretary Planning inform the cabinet about the measures being taking to eliminate middle man and providing relief to consumers. The cabinet approved renewal of Regular Public Transport, Charter and Aerial Work Licenses of M/s PIACL. The cabinet approved constitution of Board of Directors of PTDC. The cabinet ratified Trade Agreement between the Governments of the Islamic Republic of Pakistan and the People’s Democratic of Algeria. The cabinet approved the Memorandum of Understanding between National School of Public Policy (NSPP) and National Management Institute (NMI), Cairo. The cabinet approved Property Tax Exemption in respect of Benevolent Fund Building, Zero Point Islamabad. The cabinet approved appointment of Director on Board Directors of Deposit Protection Corporation. Zafar Mirza, Special Assistant to the Prime Minister on National Health Services, briefed the cabinet about progress made in reduction of Maximum Retail Prices of various drugs resulting in saving of Rs 9 billion to consumers. The cabinet approved salary package for Members of the Information Commission.
The cabinet approved secondment of Major General Omer Ahmed Bokhari, as DG Pakistan Ranger (Sindh). The cabinet approved appointment of Tasneem Sultana, District and Session Judge as Judge, Special Court (Control of Narcotics Substances-I), Karachi. Appointment of Judge, Special Court (Control of Narcotics Substances-), Quetta was also approved. The cabinet granted exemption of duties/taxes on equipment donated by China. The equipment will be used for anti-narcotics efforts.
The cabinet approved recruitment Rules of the post of Chairman of Pakistan Academy of Letters, Islamabad. The cabinet approved policy on provision of Consular Assistance to detained and imprisoned Pakistanis abroad.