NA body to discuss politicians? problems with banks

[ahlam1399]

ISLAMABAD: The National Assembly Standing Committee on Finance will discuss on April 15th “problems being faced by politicians with the financial institutions due to politically exposed persons (PEPs).”The officially released agenda of the meeting states that the financial institutions include the banks and Development Finance Institutions (DFIs). This is one of the items that the session will take up.Under Rule 239 of the Rules of Procedure & Conduct of Business in the National Assembly, the timetable of business of a committee and the agenda for its meetings shall be determined by its chairman in consultation with the minister concerned.Asad Umar is the ex-officio member of the committee for being the minister in charge of the Finance Ministry. The body is headed by Faizullah of the Pakistan Tehreek-e-Insaf (PTI), elected from Faisalabad.The agenda did not qualify the “problems” confronting the politicians. However, it is known that long time ago the banks and DFIs categorised certain persons for a different treatment by them while considering sanction of loans, issuance of debit and credit cards, grant of other facilities. They are always apprehensive of encountering problems at the hands of these figures if they were accorded any facilities. They also fear pressures from such influential personalities for undue favours.It is believed that the committee has been approached by certain MPs complaining that they were not getting various facilities from the financial institutions as other people get. They want a solution to this predicament.A standard definition of PEP, according to Wikipedia is that in financial regulation, it is a term describing someone who has been entrusted with a prominent public function. “A PEP generally presents a higher risk for potential involvement in bribery and corruption by virtue of their position and the influence that they may hold.”The standing committee will also take into consideration some other items. They include the Microfinance Institutions (Amendment) Bill, 2019, moved by Sajida Begum of the PTI. It will further discuss the issues relating to the real estate sector regarding the Federal Board of Revenue (FBR) Valuation Table, DC [Deputy Commissioner] Valuation and Upper Cap imposed by the FBR.The body will also take into consideration the issues being faced by the general public on collection of excessive tax/revenue/extra charges in shape of transfer, design and possession of plots in certain housing towns; collection of tax/revenue by the FBR or provincial governments from some other societies; the issues relating to the agriculture sector due to double taxation of the federal and provincial governments; and budgetary proposals of different stakeholders, including the chambers of commerce and industry for their inclusion in the upcoming budget 2019-20.Meanwhile, the Standing Committee on Interior, headed by Raja Khurram Shahzad Nawaz, belonging to the PTI, which meets on April 9, will get a detailed briefing and hold discussion on affairs of Federal Investigation Agency (FIA), including its mandate, standard operating procedures, year wise number of pending cases along with strategy of early disposal and proposal for its improvement; and briefing on the National Police Foundation, including step taken for redressal of grievances of residents.In the meantime, the Standing Committee on Information Technology & Telecommunication assembles on April 8 and will take up different items. These include discussion on the hurdles, impediments and issues on the digitalisation and e-office and to explore their solutions.Led by Chairman Ali Khan Jadoon of the PTI, the forum will get a briefing by the FIA, Pakistan Telecommunication Authority and the Ministry of IT & Telecom on the fake accounts being used in social media and to deal with the menace related to the cybercrimes and the steps taken or being taken to stop this hazard.In the meantime, the Standing Committee on Housing and Works meeting on April 8 has sought details of the abandoned or incomplete housing projects announced by previous prime ministers and executed by this ministry and attached departments. It is presided over by Muhammad Najeeb Haroon of the PTI, elected from Karachi.http://feeds.feedburner.com/~r/com/cwEr/~4/8lGOkRvsLxQ

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