Hafeez urges provinces to take action stringent actions against hoarders of essential food items

FBR invites manual applications for extension in Income Tax Returns

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Adviser to the Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh chaired a meeting of National Price Monitoring Committee (NPMC) today at the Finance Division to discuss the prices and supply position of essential food items. The meeting was attended by Minister Industries & Production, Special Assistant to the Prime Minister on Revenue, Provincial Chief Secretaries, Secretary NFS&R, Secretary Industries & Production, Chairman FBR, Chairperson CCP, Executive Director Commerce, Chairman TCP, Manager Coordination Utility Store Corporation (USC), Member PBS, Deputy Commissioner ICT Administration and senior officers of the Finance Division. The Finance Secretary while presenting the price trend of essential commodities informed that according to latest SPI released by PBS there is decline in the prices of 13 essential commodities for instance wheat flour, sugar, onions, tomatoes and potatoes, while the prices of 17 commodities have increased slightly. Price of 21 items remained stable. The The committee was also informed that profit margin between the prices of wholesale and retail consumers is also coming down. The Chair held detailed discussions with the Provincial Chief Secretaries regarding position of wheat in the provinces and it was informed that at present sufficient quantities are available to meet existing demand. Further, the prices of perishable items as well as wheat and sugar are showing downward trend due to the improvement in their supply position and pricing mechanism. The Committee expressed satisfaction that prices of essential items getting down. The Chair directed the M/o NFS&R to conduct an emergency meeting with TCP, Maritimes, KPT and other stakeholders to review the implementation of the schedule regarding offloading of wheat vessels as decided by the logistic committee. He further advised the Provincial governments to strictly monitor the prices of Chicken and ensure smooth supply to minimize the demand-supply gap. M/o Industries & Production was also directed to take necessary measures to control rising prices of edible oil. Federal Board of Revenue has invited manual receipt of application seeking extension to file Income Tax Returns for the Tax Year 2020, in order to facilitate the taxpayers.According to a press release issued by FBR, every Inland Revenue field formation would establish a Help Desk to receive manual requests for extension. The FBR said the option for filling of an online request for an extension would also be available and the extension would be granted generously up to the possible extent.

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