Latest news with #Anti-DumpingDuties(Amendment)Bill
Business Recorder
2 days ago
- Business
- Business Recorder
Pakistan govt alarmed by over Rs6trn losses in state-owned enterprises
ISLAMABAD: Finance Minister Muhammad Aurangzeb has termed as alarming the government figures suggesting that State-Owned Enterprises (SOEs) have incurred losses of nearly six trillion rupees, saying, eight SOEs would be privatised this year. 'This is alarming indeed,' he said, speaking on a calling attention notice in Senate on Tuesday regarding the 'alarming figures revealed in Biannual Performance Report issued by the Finance Division that state-owned enterprises have incurred losses of Rs 5.89 trillion during first half of financial year 2024-2025.' Samina Mumtaz Zehri from Balochistan Awami Party (BAP) was the original mover of the calling attention notice, but was absent from the House when the calling attention notice was taken up on the maiden day of the Senate's 353rd session. Pakistan Peoples Party (PPP) Parliamentary Leader in Senate Sherry Rehman then took up the issue regarding the reported losses incurred by the SOEs. 24 SOEs to be privatised in 3 phases: minister Last year, the revenue was recorded at Rs 12 trillion. 'But 50 percent has been lost as result of losses incurred by the SOEs,' Aurangzeb said. 'This flow is very high—the government is taking different steps to reduce expenditure—like we introduced pension reforms—to cut down on the expenses,' the minister said. He said 24 SOEs have been finalised for privatisation. 'They were referred to the Cabinet Committee on Privatisation, and then finally referred to the Privatisation Commission. Eight SOEs would be privatised this year—the rest would be privatised thereafter,' he said. The Sindh government, Aurangzeb said, is following 'very good' formula of public-private partnership. The chairpersons of the board of directors of the SOEs are being appointed from private sector to involve private sector to improve the affairs at the SOEs, said the minister. 'Three DISCOs (distribution companies) have been put to the process of privatisation—it's yielding good results,' he said. The finance minister said that the cabinet committees on SOEs and rightsizing, under his leadership, are working on the privatisation in 43 ministries and 400 government departments. Aurangzeb said he regularly appears before the finance committees of the Senate and the National Assembly for 'accountability.' Earlier, the Senate unanimously passed the Anti-Dumping Duties (Amendment) Bill, 2025. The bill gives retrospective effect to cover the period from financial year 2020-2021 and onwards to exempt products imported for foreign grant in-aid projects from payment of anti-dumping duty through Anti-Dumping Duties (Amendment), Act 2022. Meanwhile, the opposition senators strongly protested against the convictions of Pakistan Tehreek-e-Insaf (PTI) lawmakers by anti-terrorism courts (ATCs), and walked out of the House. Presently, the Senate is without an opposition leader following the conviction of Shibli Faraz by an ATC in the context of 9 May riots, and his subsequent disqualification from the Senate by the Election Commission of Pakistan (ECP). The Senate was adjourned till Friday. Copyright Business Recorder, 2025
Business Recorder
2 days ago
- Business
- Business Recorder
SOEs: govt alarmed by over Rs6trn losses
ISLAMABAD: Finance Minister Muhammad Aurangzeb has termed as alarming the government figures suggesting that State-Owned Enterprises (SOEs) have incurred losses of nearly six trillion rupees, saying, eight SOEs would be privatised this year. 'This is alarming indeed,' he said, speaking on a calling attention notice in Senate on Tuesday regarding the 'alarming figures revealed in Biannual Performance Report issued by the Finance Division that state-owned enterprises have incurred losses of Rs 5.89 trillion during first half of financial year 2024-2025.' Samina Mumtaz Zehri from Balochistan Awami Party (BAP) was the original mover of the calling attention notice, but was absent from the House when the calling attention notice was taken up on the maiden day of the Senate's 353rd session. Pakistan Peoples Party (PPP) Parliamentary Leader in Senate Sherry Rehman then took up the issue regarding the reported losses incurred by the SOEs. 24 SOEs to be privatised in 3 phases: minister Last year, the revenue was recorded at Rs 12 trillion. 'But 50 percent has been lost as result of losses incurred by the SOEs,' Aurangzeb said. 'This flow is very high—the government is taking different steps to reduce expenditure—like we introduced pension reforms—to cut down on the expenses,' the minister said. He said 24 SOEs have been finalised for privatisation. 'They were referred to the Cabinet Committee on Privatisation, and then finally referred to the Privatisation Commission. Eight SOEs would be privatised this year—the rest would be privatised thereafter,' he said. The Sindh government, Aurangzeb said, is following 'very good' formula of public-private partnership. The chairpersons of the board of directors of the SOEs are being appointed from private sector to involve private sector to improve the affairs at the SOEs, said the minister. 'Three DISCOs (distribution companies) have been put to the process of privatisation—it's yielding good results,' he said. The finance minister said that the cabinet committees on SOEs and rightsizing, under his leadership, are working on the privatisation in 43 ministries and 400 government departments. Aurangzeb said he regularly appears before the finance committees of the Senate and the National Assembly for 'accountability.' Earlier, the Senate unanimously passed the Anti-Dumping Duties (Amendment) Bill, 2025. The bill gives retrospective effect to cover the period from financial year 2020-2021 and onwards to exempt products imported for foreign grant in-aid projects from payment of anti-dumping duty through Anti-Dumping Duties (Amendment), Act 2022. Meanwhile, the opposition senators strongly protested against the convictions of Pakistan Tehreek-e-Insaf (PTI) lawmakers by anti-terrorism courts (ATCs), and walked out of the House. Presently, the Senate is without an opposition leader following the conviction of Shibli Faraz by an ATC in the context of 9 May riots, and his subsequent disqualification from the Senate by the Election Commission of Pakistan (ECP). The Senate was adjourned till Friday. Copyright Business Recorder, 2025
Express Tribune
17-03-2025
- Business
- Express Tribune
NA extends two ordinances
PML-N-led coalition government in the Centre now has 229 members in the NA. PHOTO: APP The National Assembly on Monday passed two resolutions, extending the duration of two ordinances for an additional 120 days. The resolutions passed by the house included, "That the National Assembly resolves to extend the Federal Board of Intermediate and Secondary Education (Amendment) Ordinance, 2024 (IX of 2024) for a further period of one hundred and twenty days with effect from 2nd April, 2025, under proviso to sub-paragraph (ii) of paragraph (a) of clause (2) of Article 89 of the Constitution of the Islamic Republic of Pakistan." Another resolution passed by the lower house read, "That the National Assembly resolves to extend the Income Tax (Amendment) Ordinance, 2024 (X of 2024) for a further period of one hundred and twenty days with effect from 27th April, 2025, under proviso to sub-paragraph (i) of paragraph (a) of clause (2) of Article 89 of the Constitution of the Islamic Republic of Pakistan. The House referred two legislative bills to the relevant standing committees for further deliberation and consideration. The bills include the Anti-Dumping Duties (Amendment) Bill, 2025, aimed at amending the Anti-Dumping Duties Act, 2015, and the Extradition (Amendment) Bill, 2025, seeking to amend the Extradition Act, the Societies Registration (Amendment) Ordinance, 2024 (No. XI of 2024) was laid before the House, as required under clause (2) of Article 89 of the Constitution of the Islamic Republic of Pakistan. Meanwhile, the lower house was informed that IT education has been introduced in 16 institutions across Pakistan, with five specialized courses, including Data Analysis, Blockchain, and Artificial Intelligence, being actively promoted. During the session, in response to a question by Aasia Naz Tanoli, Parliamentary Secretary Farah Naz Akbar stated that these initiatives are being implemented under the National Vocational and Technical Training Commission (NAVTTC), with a dedicated budget already allocated. She further revealed that each student enrolled in these courses receives a stipend of Rs105,000. The programme involves five universities: the National University of Sciences and Technology (NUST), the National University of Modern Languages (NUML), Ghulam Ishaq Khan Institute (GIKI), the National Skills University (NSU), and NUST's School of Electrical Engineering and Computer Science. The courses are designed for students in their fifth semester, with evening classes to facilitate learning. NAVTTC closely monitors the program, which is currently in its pilot phase. If successful, it will be expanded to schools. Responding to a question from Syed Rafiullah, Akbar mentioned that discussions regarding launching the program in Malir had taken place with the minister, and updates would be provided to the Assembly. When questioned by Shehzada Gustasp Khan about higher education in Balochistan, she noted that the province currently lacks a public chartered federal university. However, campuses of two federally chartered universities have been established in the region. She also highlighted that in the first phase, 40 laptops were distributed in Balochistan, followed by 200 more in the second phase. In response to a question by Shahida Rehmani, Akbar mentioned that NAVTTC has established a clear procedure for laptop distribution, including a flowchart available on its website.
