ISLAMABAD, March13(APP: A Meeting of the Standing Committee on Finance, Revenue & Economic Affairs held on Wednesday under the Chairman Standing Committee MNA,Faiz Ullah at Parliament House. During the meeting different issues discussed as per agenda of the meeting.
The Committee discussed the”Microfinance Institution (Amendment) Bill, 2019”, moved by Ms. Sajida Begum. It was proposed by the Honorable Federal Minister for Finance, Revenue and Economic Affairs that a meeting may be arranged by the Ministry of Finance, Revenue & Economic Affairs with Pakistan Poverty Alleviation Fund (PPAF) for the mover to discuss the measures already being taken by the PPAF in this respect. The Committee decided with the consultation of the mover that the subject Bill may be pended, till the meeting with PPAF for any further action.
The Federal Minister for Finance, Revenue and Economic Affairs briefed the Committee on the current situation of the economy. He informed the Committee that our Foreign Reserves have been enhanced and economy situation was stabilized. He said that a draft frame work will be presented to this Standing Committee for preparing the budgetary proposals for upcoming budget 2019-20. He directed the Ministry to provide a detail of Foreign Currency Loans along with its terms and regulations to the Committee and also directed the Special Secretary Finance & Revenue to provide details of the Foreign Currency Loans on regular basis to this forum. The Committee members have expressed their concern for not being invited to the members of the Committee at the ceremony of low cost housing schemes by the Government. Mr. Asad Umer, Federal Minister for Finance and Revenue ensured the Committee that he will pass on the concern of the Committee to the Honorable Prime Minister. The Committee unanimously recommended that Standing Committee should be taken on board in future for such kind of events.
The Federal Minister informed the Committee about the measures taken by the Government with regard to Financial Action Task Force (FATF). He apprised the Committee about the anti-Pakistan lobbying by India on the issues of FATF, and counter steps taken by the Government of Pakistan in this regard.
The Committee Members have expressed their concern on the overall fiscal deficit and debt servicing issues. The Members were of the view that current expenditures were increasing, which will create hurdles for balance of payments. The Committee discussed the problems being faced to the filers for filing of tax return. The Committee unanimously recommended to FBR that filing of tax return date may be extended till 31st March, 2019.
The meeting was attended by MNAs Jawad Hussain, Raza Nasrullah, Jamil Ahmed Khan, Faheem Khan, Nusrat Wahid, Qaiser Ahmed Sheikh, Dr. Aisha Ghaus Pasha, Syed Naveed Qamar and Abdul Wasay.
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