“(b)     the Federal Government may, subject to such conditions and restrictions as it may impose, by notification in the official Gazette, declare that in respect of any taxable goods, the tax shall be charged, collected and paid in such manner and at such higher or lower rate or rates as may be specified in the said notification.”; and

(2)      in Section 13,–

(a)      in sub-section (2),–

(i)       in clause (a), after the word “may”, the commas and words”, pursuant to the approval of the Economic Coordination Committee of Cabinet, whenever circumstances exist to take immediate action for the purposes of national security, natural disaster, national food security in emergency situations, protection of national economic interests in situations arising out of abnormal fluctuation in international commodity prices, removal of anomalies in taxes, development of backward areas and implementation of bilateral and multilateral agreements” shall be inserted; and

(ii)      clause (b) shall be omitted; and

(b)      after sub-section (3), the following new sub-Sections shall be added, namely:–

“(4)     The Federal Government shall place before the National Assembly all notifications issued under this section in a financial year.

(5)      Any notification issued under sub-section (2) shall, if not earlier rescinded, stand rescinded on the expiry of the financial year in which it was issued.”.

4. Amendment of Income Tax Ordinance, 2001 (XLIX of 2001).–In the Income Tax Ordinance, 2001 (XLIVof 2001), in Section 53,–

(1)      in sub-section (2), after the word “time”, occurring for the second time, the commas and words “, pursuant to the approval of the Economic Coordination Committee of Cabinet, whenever circumstances exist to take immediate action for the purposes of national security, natural disaster, national food security in emergency situations, protection of national economic interests in situations arising out of abnormal fluctuation in international commodity prices, removal of anomalies in taxes, development of backward areas and implementation of bilateral and multilateral agreements” shall be inserted; and

(2)      after sub-section (3), the following new sub-section shall be added, namely:–

“(4)     Any notification issued under sub-section (2) shall, if not earlier rescinded, stand rescinded on the expiry of the financial year in which it was issued.”.

5. Amendment of Federal Excise Act, 2005.–In the Federal Excise Act, 2005, in Section 16,–

(1)      in sub-section (2), after the word “may”, the commas and words”, pursuant to the approval of the Economic Coordination Committee of Cabinet, whenever circumstances exist to take immediate action for the purposes of national security, natural disaster, national food security in emergency situations, protection of national economic interests in situations arising out of abnormal fluctuation in international commodity prices, removal of anomalies in duties, development of backward areas and implementation of bilateral and multilateral agreements” shall be inserted;

(2)      sub-section (3) shall be omitted;

(3)      in sub-section (4), for the words, figures and brackets “sub-Sections (2) and (3)”, the word, figure and brackets “sub-section (2)” shall be substituted; and

(4)      after sub-section (4), amended as aforesaid, the following new sub-Sections shall be added, namely:–