Meeting Discusses Formula For Tobacco Cess Distribution Fund

(@rukhshanmir)

Meeting discusses formula for tobacco cess distribution fund

PESHAWAR, (UrduPoint / Pakistan Point News - 14th Mar, 2017 ) : A meeting held here Tuesday with Speaker, Khyber Pakhtunkhwa Assembly Asad Qaiser in the chair discussed formula for the distribution of arrears in head of tobacco cess fund among the six provincial assembly Constituencies of district Swabi.

Besides, Senior Minister for Health, Shahram Khan Tarakai, Special Assistant to CM for Industries, Abdul Karim Khan, MPAs, Babar Saleem,Shiraz Khan, Secretary Law, Mohammad Arifeen and Secretary Excise & Taxation, Javed Marwat and Additional Secretary Finance, Deputy Commissioner, Swabi, Tariq Ali Khan and other concerned authorities also attended.

The meeting discussed in details the procedure for the distribution of the arrears of tobacco cess funds and hurdles in the release of funds in that regard. The meeting also took some crucial decisions.

During the meeting, the authorities of Finance Department told the participants in detail regarding the release of funds in head of tobacco cess to district Swabi since 2012 till current year. The meeting was told that during the financial year 2012-13 a fund of Rs.114 million was released to district Swabi in head of tobacco cess while due to non consensus on funds distribution formula no fund was released during 2013-14 and 2014-15.

The meeting was further told that an amount of Rs.

55 million has been released during the year 2015-16 while Rs.56 million were still outstanding. The meeting was also told that during the current year an amount of Rs.285 million will be released to district Swabi in head of tobacco cess.

The participants of the meeting agreed that the arrears of the last four years will be distributed on the basis of the distribution formula of the year 2012-13. The meeting also decided that due to cut in the share of the fund for PK-36, the shares of the provincial assembly constituencies PK-31, PK-32, PK-34 and PK-35 will be cut by 1 per cent to increase the share of the PK-36 while PK-33 will be released funds under the same old formula.

On this occasion, Speaker KP Assembly, Asad Qaiser directed the Secretary Excise and Taxation and authorities of Finance Department for sending the summary to Chief Minister for immediate payment of the arrears of tobacco cess to district Swabi.

He also directed the Deputy Commissioner, Swabi for guaranteeing the distribution of tobacco cess funds to the district under the agreed formula. Addressing the meeting, Speaker KP Assembly, Asad Qaiser termed the consensus of all members on the tobacco cess fund distribution formula as welcoming, saying the release of funds in the head will usher progress and development in district Swabi.