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FBR, SBP told to address exporters’ problems on priority basis

FBR, SBP told to address exporters’ problems on priority basis

ISLAMABAD: The National Assembly Standing Committee on Finance and Revenue has directed the Federal Board of Revenue (FBR) chairman and the State Bank of Pakistan (SBP) to address the problems and difficulties faced by exporters, industrialists and stakeholders. In this connection, both the state institutions were directed to consult the president of Sialkot Chamber of Commerce and Industries for resolving the problems of exporters.

The NA committee met here with Qaiser Ahmad Sheikh in the chair to get a briefing from the FBR chairman on the targets achieved by the FBR during the fiscal year 2016-17 as well as to discuss other agenda items.

On the onset of the meeting, the chairman and the committee members extended warm felicitations to the newly appointed FBR chairman, Tariq Pasha and extended their good wishes. On that occasion, the committee also appreciated the role of former FBR chairman Dr. Muhammad Irshad Khan for increasing the state revenues.

The committee members were informed by the stakeholders of textile industries, they were of the view that government should restructure the loaning to the textile industry in lieu of the collateral provided by the stakeholders.

After detailed discussion the committee decided that a joint of the Standing Committees on Commerce, Textile and Finance & Revenue of the National Assembly would be called shortly in this regard. The committee unanimously recommended that concerned ministers should be requested to attend the said meeting.  The committee also discussed the issues regarding Pakistan Steel Melters Association and recommended to FBR to sit with them for resolving the problem facing by the steel industry

Earlier, the committee considered the Microfinance Institutions (Amendment) Bill, 2017 and directed to State Bank of Pakistan for properly advertisement of ongoing loaning schemes already launched by the government for disabled persons.

The committee further recommended to SBP for issuance of necessary directions to all banks for providing disclosure of loaning details to disabled persons on quarterly basis. The committee unanimously recommended that the Microfinance Institutions (Amendment) Bill, 2017 may be passed by the Assembly as reported by the Committee.

The Committee considered the Investment Corporation of Pakistan (Repeal) Bill, 2017 and recommended that it may be passed by the National Assembly as reported by the Committee.