Standing Committee on Finance, Revenue, Economic Affairs, Statistics meets

The 57th meeting of the Standing Committee on Finance, Revenue, Economic Affairs, Statistics and Privatization of the National Assembly was held in Islamabad Friday under the Chairmanship of Qaiser Ahmad Sheikh, MNA.

The Committee considered the Microfinance Institutions (Amendment) Bill, 2017 and directed to State Bank of Pakistan for properly advertisement of ongoing loaning schemes already launched by the government for disabled persons.

The Committee further recommended to SBP for issuance of necessary directions to all banks for providing disclosure of loaning details to disabled persons on quarterly basis. The Committee unanimously recommended that the Microfinance Institutions (Amendment) Bill, 2017 may be passed by the Assembly as reported by the Committee, introduced by Ms. Sajida Begum, MNA.

The Committee considered the Investment Corporation of Pakistan (Repeal) Bill, 2017 and recommended that it may be passed by the National Assembly as reported by the Committee.

While considering the matter regarding difficulties being faced by the exporters, industrialists and stakeholders the Committee directed the Chairman, Federal Board of Revenue (FBR) and State Bank of Pakistan to sit with the President Sialkot Chamber of Commerce & Industries for resolving the problems of exporters.

The Committee Members were informed by the stakeholders of textile industries they were of the view that government should restructure the loaning to the textile industry in lieu of the collateral provided by the stakeholders.

After detailed discussion the Committee decided that a joint of the Standing Committees on Commerce, Textile and Finance & Revenue of the National Assembly would be called shortly in this regard. The Committee unanimously recommended that concerned Ministers should be requested to attend the said meeting. The Committee also discussed the issues regarding Pakistan Steel Melters Association and recommended to FBR to sit with them for resolving the problem facing by the Steel industry.

The Committee welcomed the Chairman, Federal Board of Revenue (FBR) on his posting and extended its well wishes. The Committee also appreciated the role of Dr. Muhammad Irshad Khan, former Chairman FBR.

The meeting was attended by Mr. Saeed Ahmed Khan Manais, Mr. Muhammad Tallal Chaudry, Mr. Mohsin Shah Nawaz Ranjha, Dr. Shizra Mansab Ali Khan Kharral, Sheikh Fayyaz-ud-Din, Mian Abdul Mannan, Syed Naveed Qamar, Mr. Asad Umar, Mr. Abdul Rashid Godil and Ms. Sajida Begum, MNAs, besides the senior officers from Ministry of Finance & Revenue, Ministry of Commerce, Ministry of Industries & Production, Ministry of Law & Justice, FBR and SBP.