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The National Assembly Session has been prorogued on Monday, the 15th April, 2024 | In exercise of the powers conferred by clause (1) of Article 54 read with clause (3) of Article 56 of the Constitution of the Islamic Republic of Pakistan, the President has been pleased to summon both Houses to assemble together in the Parliament House, Islamabad on Thursday, the 18th April, 2024 at 4:00 p.m.
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Standing Committee on Finance, Revenue, Economic Affairs, Statistics and Privatization meets

Thursday, 11th August, 2016

37th meeting of the Standing Committee on Finance, Revenue, Economic Affairs, Statistics and Privatization of the National Assembly was held today, the 11th August, 2016, at 02:00 p.m., in Committee Room No. 7, Parliament House, Islamabad, under the Chairmanship of Mr. Qaiser Ahmad Sheikh, MNA, on the following agenda:-

i) Confirmation of minutes of last meeting held on 03-08-2016.

ii) Briefing by the Chairman, FBR regarding tax imposition and its implementations on real estate transactions in light of the amendments made in the Finance Bill, 2016-17.

iii) The Cost and Management Accountants (Amendment) Bill, 2015. (Government Bill)

iv) The Benami Transaction (Prohibition) Act, 2016. (Government Bill)

v) An Eradication of Riba Bill, 2015. (Moved by Mr. Sher Akber Khan, MNA)

2.The Committee approved / confirmed the minutes of last meeting held on 3rd August, 2016. The Committee Members were requested by the Secretary, Ministry of Finance & Revenue that agenda item No. ii & iv may be deferred owing to the unavailability of the Chairman and concerned officers from Federal Board of Revenue (FBR). He added that the Cost and Management Accountants (Amendment) Bill, 2015 was under consideration by the Ministry of Finance & Revenue as directed by the Committee. He also stated that it may be taken on agenda after one month.

3. While considering “An Eradication of Riba Bill, 2015” the Secretary, Ministry of Finance informed the Committee that subject matter is under consideration with apex court and Ministry of Finance is working for improving the Islamic Banking in the country. He further added that steering Committee report in this regard is also awaited. Mr. Sher Akber Khan, MNA/Mover of the Bill said that subject Bill may be deferred for the conclusion of its report by the Ministry. The Committee decided that same may be taken on the agenda later on with consultation of the mover. The Committee decided that next meeting of the Committee would be convened on 23rd August, 2016.

4.Meeting was attended by Mr. Saeed Ahmed Khan Manais, Rana Shamim Ahmed Khan, Mr. Muhammad Pervaiz Malik, Sheikh Fayyaz-ud-Din, Mian Abdul Mannan, Ms. Shaza Fatima Khawaja, Ms. Leila Khan, Syed Naveed Qamar, MNAs and Mr. Sher Akber Khan, Mover/MNA.