Impact Of SROs On The Economy Of Pakistan
Webinars Brief 18:2021
Publication Year : 2021

PIDE recently organized a webinar to understand the impact of SROs on the economy of Pakistan. This webinar enlightens us was to understand how SRO culture affects the Economy of Pakistan in terms of its impact on the promotion of specific industries, users and groups, and rent-seeking. SROs stands for Statutory Regulatory Orders; this refers to all kinds of government regulations carried out by FBR and different ministries through delegated powers. These include SROs in the health sector, in taxes, in commerce, in energy, in auto sector, etc. But this webinar only concerned with the SROs in taxation. In this context, SROs are of two types in terms of regulations i.e., procedural and concessionary. Concessionary SROs grant tax concessions or exemptions as well as impose extra taxes in the form of additional duties and regulatory duties. Whereas, Procedural SROs provide some kind of rules or procedures to carry out laws/ amendments in the existing SROs. Over time the nature and form of concessions given under SROs have been changed and now the system is moving from SROs to schedules where the same SROs are introduced through schedules like 5th schedule in customs and 6th schedule in sales tax. FBR had the discretion to grant concessionary SROs but now this authority has been withdrawn from FBR and now it is the parliament who is responsible to grant SROs.

Edited by Hafsa Hina, Design by Afzal Balti.