NA Committee asks to suggest proposals for upcoming budget

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NA Committee asks to suggest proposals for upcoming budget

ISLAMABAD: The National Assembly Standing Committee on Finance called upon all the stakeholders to send their proposals for the upcoming budget 2017-18.

"This is the best forum, the stakeholders including business organizations and chambers of commerce and industry could utilize to provide their proposals for budget", said Chairman of the committee Qaiser Ahmed Shaikh.

He said a special meeting would be convened soon in this regard in which all stakeholders would be invited and would be given the opportunity to discuss their issues and present proposals accordingly.

The committee also reviewed the already sent proposals and suggestion from Federation of Pakistan Chambers of Commerce and Industry, various chambers of commerce, real estate sector and Pakistan cotton grinners.

The committee decided that further discussion would be continued on the proposals in next meeting in presence of the representatives of the respective stakeholders.

Meanwhile the committee also discussed "The Auditor General's (Functions, Powers and Terms and Conditions of Service)(Amendment)Bill, 2017" (Government Bill).

Daniyal Aziz on the occasion said the audit system of the country must be strengthened in a bid to ensure transparency in all government departments.

Commenting on the "The Micro finance Institutions (Amendment Bill, 2017" moved by MNA Sajida Begum, Dr Nafeesa Shah said that the micro finance facility was basically designed to provide small loans to the poor but unfortunately the institutions were charging mark up rates as high as 13 per cent.

She said the institutions must be bound to reduce the interest rates specially for disabled people.

Briefing on the functioning and working of the First Women Bank, the Bank's president Tahira Raza said the bank was facing financial crunches therefore it needs a capital of Rs 10 billion to make it profitable.

She said the bank had 42 branches across the country out of which 17 were facing losses.

The committee however showed its concerns over the performance of the bank saying that owing to its weak condition, the management of the bank was needed to be privatized.

The committee was also attended by MNAs Saeed Ahmad Khan Manais, Rana Shamim Ahmed Khan, Shaza Fatima Khawaja, Dr Shizra Mansab Ali Khan Kharral, Syed Naveed Qamar , Sajid Nawaz and Secretary Finance Tariq Bajwa. (APP)