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The Standing Committee on Finance and Revenue meets

Wednesday, 16th November, 2022

A meeting of the Standing Committee on Finance and Revenue was held in the Committee Room 7, Parliament House, Islamabad under the Chairpersonship of Mr. Qaiser Ahmed Sheikh, MNA. 

The Committee was briefed about actions taken by State Bank of Pakistan (SBP) against earned treasuries of eight banks for exorbitant profits. The Committee showed its reservations regarding slow pace of inquiry. Deputy Governor, SBP assured committee that the process is in closing stages, various banks have been charged, and it will be concluded by the end of current month. Furthermore, SBP has tightened monitoring and no further complaints regarding manipulation is coming to them. The Committee reiterated that it expects strict punishment and fines will be meted out to accused Banks. 

The Committee was also briefed regarding steps taken by National Disaster Management Authority (NDMA) regarding allocation of funds and essential items provided to the flood affectees. The Committee showed its displeasure over non presence of Chairman, NDMA. It also showed dissatisfaction over non availability of accurate data regarding flood affectees. 

President, Zarai Taraqiati Bank (ZTBL) also briefed Committee regarding ZTBL operations and performance. The Committee showed apprehensions regarding unsatisfactory performance of bank. It also showed its concern regarding reports of victimization of some employees of ZTBL. The Committee said that it wants ZTBL to get its affairs in order and brief committee again after rectification of outstanding issues. 

The meeting of the Committee on Finance and Revenue was presided over by its Chairperson Mr Qaiser Ahmed Sheikh, MNA and attended by Members of National Assembly; Ms Nafisa Shah, Ch. Muhammad Barjees Tahir, Engr. Sabir Hussain Kaim Khani, Mr Nasir Iqbal Bosal, Chaudhary Khalid Javed and Mr Khalid Hussain Magsi. The meeting was also attended by Special Assistant to Prime Minister on Finance, Mr Tariq Bajwa, Secretary Ministry of Finance, President ZTBL and other government officers.