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Standing Committee on Finance and Revenue Meets

Wednesday, 8th March, 2023

(Standing Committee on Finance and Revenue)


Islamabad, the 8th March, 2023: The National Assembly's Standing Committee on Finance and Revenue expressed displeasure over the delay in appointment of Members of the Board of Competition Commission of Pakistan (CCP) and directed the Finance Division to finalize the process of appointment of Board Members in order to improve the working and performance of the organization. The Committee also expressed its dissatisfaction with the delay in appointing Heads for the National Bank of Pakistan (NBP) and Zarai Tarqiati Bank Limited (ZTBL), which has remained unresolved for nearly a year.

2. 83rd meeting of the Standing Committee on Finance and Revenue held today at 2:30 p.m. in the Parliament House, Islamabad under the Chairmanship of Mr. Qaiser Ahmed Sheikh, MNA.

3. While briefing, the Chairperson Competition Commission of Pakistan (CCP) apprised that the role of CCP is to foster competition in all spheres of economic activity and to protect consumers from anti-competitive practices. She informed that CCP essentially administers the provisions of the Competition Act, 2010 by means of enforcing the prohibitions against anti-competitive behavior, undertaking competition advocacy and conducting research on competition related issues. She said that CCP has made many achievements over the years, however, there remain some challenges that need to be addressed. She emphasized that there are over 500 cases against CCP’s actions which are pending in different Courts. Over 217 appeals against CCP Orders are pending in Competition Appellate Tribunal, she added. A Committee Member inquired about the status of the CCP Board Members. Special Secretary, Finance Division informed the Committee that there are four vacancies among the five Members of the CCP. Currently the Commission has no other member except the Chairperson CCP and the positions of the Members are vacant since March, 2022. He apprised that 186 applications have been received out of which the candidates are being shortlisted, whereas, a Committee headed by the Hon. Minister for Finance will finalize the appointment of these four Members.

4. A Committee Member, referring to the International Women's Day, said that just by celebrating women day does not fulfill the rights of women. She held that practical steps need to be taken. Governor, State Bank of Pakistan replied that they had directed all public and private sector banks to allocate 20 to 25% quota to women for employment in baking sector.

5. While discussion on the Calling Attention Notice regarding privatization of House Building Finance Corporation (HBFC), the Special Secretary, Finance Division told the Committee that HBFC has always been in loss and was put in the privatization list five years ago. He informed that State Bank of Pakistan (SBP) owned 90% of the Corporation’s shares, while HBFC itself remained the owner of only 10% of the shares. In the last period, the government waived off the debt amounting to Rs.166.9 billion, he added.

6. The meeting was attended by Members of National Assembly; Mr. Nasir Iqbal Bosal, Chaudhary Khalid Javed, Mr. Ali Pervaiz, Dr. Nafisa Shah, Syed Hussain Tariq, Engr. Sabir Hussain Kaim Khani, Mr. Khalid Hussain Magsi, Mr. Salahuddin Ayubi and Makhdoom Syed Sami-ul-Hassan Gillani. Movers of the Matters, referred to the Standing Committee, Ms. Kishwer Zehra and Ms. Saira Bano, MNAs were also present in the meeting. The meeting was also attended by the senior officers from Finance Division, Revenue Division (FBR), Privatization Division, SBP and ZTBL.