NA Panel Blames FBR for $1.5 Billion Loss By Excluding Steel Sector From Export Scheme

The National Assembly Standing Committee on Industries and Production on Tuesday grilled the Federal Board of Revenue (FBR) for failing to implement its directives regarding the inclusion of the iron and steel sector in the Export Facilitation Scheme. The committee held FBR responsible for a potential loss of $1.5 billion in exports due to the delay in issuing the required Statutory Regulatory Order (SRO). Expressing strong disapproval, the chairman remarked that FBR was ignoring parliamentary instructions and announced a formal notice against the department. The frustration was further fueled by the continuous rotation of FBR representatives at committee meetings. “First, an FBR lady used to come, then Mr. Faisal used to come, and today another gentleman has come; we will bear him too,” the chairman remarked sarcastically, urging the media to highlight the FBR’s conduct. Another pressing matter discussed was the financial crisis facing the Utility Stores Corporation (USC). With Rs. 7.2 billion reportedly due from the corporation, FBR officials claimed USC had demanded Rs. 18.50 billion. The chairman urged both sides to resolve the dispute immediately to prevent employee layoffs. “We want Utility Stores employees not to be unemployed,” Hafizuddin said, assuring union representatives that their jobs would be protected. Throughout the session, the committee emphasized accountability across public and private institutions and made it clear that delays, defiance, or neglect of parliamentary directions would not be tolerated.