A parliamentary panel will take up the issue related to the Income Tax assessed and paid by the Bahria Town Administration (BTA) during the last three years.
Senate Chairman Farooq H Naek referred the matter to the Senate Standing Committee on Finance on Tuesday, asking its members to prepare a detailed report as soon as possible.
The ruling comes following the finance ministry’s refusal to disclose information related to powerful property tycoon Malik Riaz Hussain, who is the chief executive of Bahria Town.
“Section 216 of the Income Tax Ordinance, 2001 debars disclosure in relation to any matter in respect of which there is a constitutional or stator obligation not to disclose information,” said Finance Minister Dr Abdul Hafeez Sheikh in his written reply to the Senate.
Awami National Party (ANP) Senator Zahid Khan had sought details of Income Tax related to the BTA last month.
Senators across the party lines demanded the government to declare the annexure pertaining to the property of Malik Riaz.
On Tuesday, Senator Zahid revealed that the Bahria Town Administration had to pay Rs2 billion on account of Income Tax to the Federal Board of Revenue (FBR). Only an amount of Rs280 million was paid to the department, he added.
“An illegal deal has been made between the FBR officials and Bahria Town Administration as Rs1.72 billion were waived off by the government,” Zahid told The Express Tribune.
When lawmakers are bound to declare their assets why should information related to businessmen not be made public, he said on the floor of the house.
State Minister for Production Khawaja Sheraz Mehmood informed the House that the law bars disclosure of such information. However, Senator Haji Adil countered Mehmood’s arguments, saying he could not interpret the laws properly.
Published in The Express Tribune, December 21st, 2011.
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If the SC or any other institution is sincere, they can do a simple thing to stop major corruption. Any whistle blower who reports this kind of major corruption, would get a % of the recovery and full anonymity and protection. This happens in many countries of the world and nothing is new. On their part, instead of prolonging the cases and appeals, the courts should set a fine (say one or two times the amount of corruption right away). This can be done with the same sense of urgency as the cases against the executive decisions. The country does not need any memo or sombody's head. The country needs the money right away. I am not too hopeful but finally there is open talk of corruption against the sacred cows in the assemblies.
Malik Riaz and tax returns? Now that Bahria Town is actually developing sectors in DHA Islamabad and with his cosy relationship with the army, bureaucracy and politicians, he is above the law in every respect.
I dont know how this country is still alive. There are corrupt people everywhere. Anywhere you go you will see corruption.
Rs.1.72 billion !! that is a shockingly high amount.how can anyone get away with Rs.1.72 billion and no tv channel covered this !! in a country where people are harassed by recovery officers over credit card payments of a few hundred rupees how is a man allowed to easily get Rs.1.72 billion waived off?
No wonder some people hate and defame democracy. Only in open and honest discussions we can find out who is plundering the country. Rumors, innuendo and media trials are far from the truth. Why are some quarters so opposed to democracy to take roots in the country? This is the only way the country can overcome the much talked about corruption. Let us not be afraid and investigate whomever is involved without taking sides.