"Seven years plan on Islamic Banking was underway and that a comprehensive framework would be brought within two months".This was told to Standing Committee on Finance, Revenue and Economic Affairs of National Assembly that was held here at Parliament House on Thursday, under the chairmanship of Asad Umar, MNA.Dr. Aisha Ghaus Pasha, Convener of the Sub-Committee presented the report of Sub-Committee on ToRs "to recommend measures for controlling inflation".
Islamabad (Pakistan Point News / Online - 03rd October, 2019) "Seven years plan on Islamic Banking was underway and that a comprehensive framework would be brought within two months".This was told to Standing Committee on Finance, Revenue and Economic Affairs of National Assembly that was held here at Parliament House on Thursday, under the chairmanship of Asad Umar, MNA.Dr. Aisha Ghaus Pasha, Convener of the Sub-Committee presented the report of Sub-Committee on ToRs "to recommend measures for controlling inflation".
The Committee decided that said report will be placed in the agenda of the upcoming meeting for deliberations.Briefing was given by State Bank of Pakistan on the Eradication of Riba Bill, 2019. The Chairman of Committee directed to pace-up the work on said Bill and decided to appoint a Sub-Committee under the convernship of Raza Nasrullah, MNA.NA's body discussed the Islamabad Capital Territory Prohibition of Interest on Private Loans Bill, 2019 moved by Moulana Abdul Akbar Chitrali, MNA and directed the Ministry of Finance to furnish the detailed comments in that regard.
The Committee also recommended that a request will be sent to Ministry of Interior for their views regarding enforceability of the said Bill in Islamabad Capital Territory (ICT).The Committee discussed "The Pakistan Coinage (Amendment) Bill, 2019" and expressed its concern on the reasons and objectives provided by the Finance Division. The Committee recommended that Ministry of Commerce may be asked to give their input with regard to the GSP plus implications if any, furthermore the Committee recommended that State Bank of Pakistan may be requested for their remarks in that regard.
The Committee directed the Finance Division to provide the details of the summary dated 26-12-2013 sent to the Cabinet regarding Essential Service Act, 1952. The meeting deferred the Small Business Finance Corporation (Amendment) Bill, 2019 due to the absence of mover. Finance Committee considered the Bank (Nationalization) (Amendment) Bill, 2019 and the Loans for Agricultural Commercial & Industrial Purposes (Amendment) Bill, 2019 and recommended that both Bills may be passed by the National Assembly. The Committee deferred the Controller General of Accounts (Appointment, Functions and Powers) (Amendment) Bill, 2019, due to absence of Hon. Mover.
