ISLAMABAD, Feb 27 (APP): The National Assembly Standing Committee on Finance, Revenue and Economic Affairs Thursday discussed the Pakistan Coinage (Amendment) Bill, 2019 and generally recommended that the said bill may not be passed by the National Assembly.
The committee argued on the calling attention number 18 regarding deduction of 5% maintenance allowance from the salaries of the federal government employees working in BPS-6 to BPS-15 (moved by MNA, Ali Nawaz Awan).The Standing Committee on Finance, Revenue and Economic Affairs meeting was held under the chairmanship of MNA, Faiz Ullah here in the Parliament House.The Committee directed the Ministry of Housing and Ministry of Finance to convene an exclusive meeting with Ali Nawaz Awan, mover of the said calling attention for concrete solution of the issue. The committee unanimously decided that all government bills would be considered in the meeting, when advisor to the prime minister on finance would brief the committee.The committee discussed the matter pertaining to disbursement of Loans to Small and Medium Enterprises (SMEs) sector in Pakistan by the commercial banks and policies of State Bank of Pakistan (SBP).
In this regard, SBP senior director, Irfan Ali briefed the committee about the policy defined by the SBP for SME sector, he said the SBP had taken certain measures, the policy had nine pillars which include improving regulatory framework, up-scaling of micro finance banks, risk mitigation strategy, simplified procedures for SME financing, program me based.
He added that lending and value chain financing, capacity building and awareness creation, hand-holding of SMEs, leveraging technology for promotion of SME finance and simplification of taxation regime was also included in them.The committee noted that the government should review its policy of SME sector at the earliest; because this sector considered as back bone of the economy.The senior representatives from commercial banks (UBL, ABL, BOP and Al-Falah) were also present in the meeting. They have expressed their policies with regard to SME sector. While discussing the matter regarding embezzlement scam recently occurred in customs and actions taken by the federal board of revenue, FBR Acting Chairperson Nosheen Javed apprised the committee about the said scam.She informed that director general of intelligence and investigation (Customs), Islamabad sent four special reports, in which several issues were highlighted with respect to clearance at Torkham.
She added the FBR had constituted a joint investigation team (JIT) comprising of collector MCC (appraisement and investigation-customs) regional office Peshawar to conduct thorough investigation into the matter and would submit its report; further action would be taken on receipt of report of JIT.The committee decided that director general of customs intelligence and members of the committee may be called after one month for further discussion in this regard.
Beside the members of the committee the meeting was also attended by the senior officers from Ministry of Finance, Revenue and Economic Affairs, FBR, State Bank of Pakistan and Ministry of Law & Justice.
Source: VNS
