Page 19 - DMEA Week 39 2021

DMEA NEWS IN BRIEF DMEA

1.65 million in tax year 2016 to 3.1 million in 14, an amount of $1.5 billion (equivalent to neglected the agriculture sector which
tax year 2020, showing an increase of 87%. Rs157.198 billion) received as grant from decreased the production of wheat and other
He said notices were issued to non-filers the Saudi Arabian Monetary Agency, was food items, adding the present government
under Section 114(4) of the Income Tax transferred to the Pakistan Development Fund was going to introduce agriculture
Ordinance, 2001 for filing of Income Tax Limited (PDFL) account in the State Bank of transformation package which would help to
return. In case, a taxpayer did not comply Pakistan. boost the agri sector.
with the notices, proceedings under Section Tarin said Saudi Arabia was considering The minister said the present government
182 of Income Ordinance, 2001 also initiated extending an oil facility to Pakistan which was going to announce a massive subsidy on
to impose penalty. would be announced soon. He said Roshan DAP fertilizer to provide relief to farmers and
After providing opportunity of being heard Digital Account could allow overseas boost the agriculture sector.
to taxpayers the proceedings were finalised as Pakistanis to directly invest into the shares He said the economy was growing after a
per law, he added. of companies in Pakistan and in the Stock longtime and that was why imports were on
The minister said, with the approval of the Exchange of Pakistan. the rise
prime minister during financial year 2013- He said the previous governments had APP

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