(Photo: Internet)
Islamabad: Chairman FBR Malik Amjad Zubair Towana has requested Caretaker Prime Minister Anwar Haq Kakar to take up the issue of $4 billion gap with China, as incomplete data provided by China is leading to reduction and loss in revenue and foreign exchange. Is.
Chairman FBR briefed the Senate Standing Committee on the ongoing investigation into the gross gap of $8 billion in trade with the four countries. He said that a difference of 4 billion dollars has been found in the trade with China, about which the Prime Minister has been informed and requested to take up the matter with the Chinese authorities.
He said that Pakistan has an agreement with China to provide complete data on trade activities, but it is not being fully implemented.
China has told the International Trade Center that Pakistan has exported $17 billion, but according to our data, Pakistan has imported $13 billion from China. Thus, there is a difference of 4 billion dollars between the data provided by China and our data.
In a letter written by Pakistan Business Council to Caretaker Finance Minister Shamshad Akhtar, it has been stated that Pakistani businessmen have imported 19 billion dollars from China, Singapore, Germany and the United Kingdom during the fiscal year 2022, while on behalf of these countries, Pakistan reported to have exports of 26.3 billion dollars, thus there is a difference of 7.3 billion dollars between the data provided by the four countries and the Pakistani data.
Ziba Hai, Member of Customs Operations of FBR said in this regard that we are asking the Chinese authorities for the data as per goods declaration, but the Chinese authorities are providing us only lump sum data. China is now willing to provide data on a quarantine basis, but is still reluctant to provide data on an invoice basis.
Chairman FBR asked the committee for one week more time to complete the investigation.
Regarding the increase in agricultural tax, Chairman FBR said that the issue of agricultural tax comes under the jurisdiction of the provincial government. In response to a question, he said that there are 10 million registered taxpayers in Pakistan, but only 4.2 million of them filed tax returns last year.
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