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The National Assembly has been summoned to meet on Monday, the 1st April, 2024 at 4:00 p.m. in the Parliament House, Islamabad
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Meeting of the Standing Committees on Finance, Revenue, Economic Affairs, Statistics and Privatization

Tuesday, 16th May, 2017

Islamabad, the 16th May, 2017: 55th meeting of the Standing Committees on Finance, Revenue, Economic Affairs, Statistics and Privatization of the National Assembly was held today, the 16th May, 2017 in Committee Room No. 7, under the Chairmanship of Mr. Qaiser Ahmad Sheikh, MNA

2.   The Committee approved the minutes of the last meeting held on 26-04-2017.

3.   The Committee deferred “An Eradication of Riba Bill, 2015” (moved by Mr. Sher Akbar Khan, MNA) and “The Islamabad Capital Territory Prohibition of Private Money Lending Bill, 2017” (moved by Mr. Sajid Nawaz, MNA) on the request of the Honorable Movers.

4.   The Committee considered “The Microfinance Institutions (Amendment) Bill, 2017” (moved by Ms. Sajida Begum, MNA) and recommended that State Bank of Pakistan will prepare a proposal regarding to offer special care to disable persons of society by providing loans on soft terms and conditions.

5.   The Committee considered “The Auditor-General’s (Functions, Powers and Terms & Conditions of Service) (Amendment) Bill, 2017) and recommended that the Bill may be passed by the National Assembly, as reported by the Standing Committee.

6.   The Committee discussed the issues regarding Dairy sector in Pakistan and recommended that Dairy sector should be considered on zero rating instead of exemption of tax. The Committee also discussed the challenges to local wire and cables manufacturers and supported the view point of the local cable industry. The Committee strongly recommended that local wire and cables manufacturers should be considered in zero rated tax net. The Committee further recommended that proposal received from cables sector should be sent to Federal Board of Revenue for further consideration.

7.   The Committee was briefed by the representative of Karachi Timber Merchant Group on the proposals prepared by the Timber Merchants. The Committee supported that the same may be forwarded to FBR for its consideration to incorporate in the upcoming budget.  

8.   The Committee was informed by the representative of Pakistan Plastic Manufacturer Association regarding the problems being faced by the industry due to custom tariff of polymeric MDI. The Committee strongly recommended for downward revision of custom tariff on polymeric MDI (further PCT 3909-3000 in the upcoming budget).

9.   The President, National Bank of Pakistan (NBP) assured the Committee that issues relating to pensioners would be taken up in the Board meeting for its positive solution, shortly. The Committee was informed by the Director, National Accountability Bureau (NAB) about the actions taken by the NAB after filing the reference of NBP Bangladesh scam against the accused. The Committee recommended that details of the actions taken by the NAB in this regard may be provided to this Committee.    

10.  Meeting was attended by Mr. Saeed Ahmed Khan Manais, Sheikh Fayyaz-ud-Din, Mian Abdul Mannan, Syed Mustafa Mehmud, Mr. Asad Umar, Ms. Sajida Begum, Mr. Sher Akbar Ali Khan, MNAs and besides senior officers from Ministry of Finance & Revenue, NBP, SBP and AGP.