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FBR chairman Pasha to brief Senate body on role of private banks
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FBR chairman Pasha to brief Senate body on role of private banks

ISLAMABAD: Chairman Federal Board of Revenue (FBR) Tariq Mehmood Pasha and his team will brief Senate Standing Committee for Finance, Revenue, Economic Affairs, Statistics and Privatization on the rules made under Benami Act, 2017.

The meeting of committee will be held under the chairmanship Senator Saleem Mandviwala. Committee will discuss the issues and reply submitted by the Federal Board of Revenue to the Joint Investigation Team (JIT) and its role in this regard.

Secretary Finance Division Shahid Mehmood will brief committee in-camera session on the role of private banks including Standard Chartered Bank, Citi Bank and Deutssche Bank regarding issuance of Euro bonds by the government of Pakistan.

State Bank of Pakistan, Bank of Punjab and Securities Exchange Commission of Pakistan (SECP) officials will brief committee on the alleged manipulation of share price of Bank of Punjab and loss of share holders.

Committee will discuss on the grants and loans to the provincial governments and non government organizations (NGOs) without involving Economic Affairs Division raised by Senator Fateh Muhammad Muhammad Hasni. Committee will consider the matter regarding separation of accounts from audit controlled by the Auditor General of Pakistan (AGP), submitted by Chairman, All Pakistan Audit and Accounts Officer Association (Combined).

The committee will review the implementation status of the compliance report of the recommendations made by the committee on economic affairs division in its meeting held on 12th April 2017.

Federal Finance Minister Muhammad Ishaq Dar likely to be attend the meeting of the Senate Finance Committee.