Latest news with #SyedNaveedQamar
Business Recorder
4 days ago
- Business
- Business Recorder
Petroleum (Amendment) Bill, 2025 considered in detail
ISLAMABAD: The meeting of the Standing Committee on Petroleum Division of the National Assembly was held here on Friday under the chairmanship of Syed Mustafa Mehmood. The chairman attended the meeting from abroad and, after commencing the proceedings, sought permission to leave. Subsequently, the committee, unanimously, elected Syed Naveed Qamar, to preside over the remainder of the meeting under rule-216 of the Rules of Procedure and Conduct of Business in the National Assembly, 2007. At the outset, the committee confirmed the minutes of its previous meeting held on 22nd May 2025 and extended a warm welcome to the federal minister for Petroleum Division, members of the committee, and officials from various divisions, and departments for their participation. The committee then considered in detail the Petroleum (Amendment) Bill, 2025 (Government Bill) and recommended its passage by the National Assembly with amendments. The sub-committee was constituted under the convener-ship of Syed Naveed Qamar submitted its report to the main Standing Committee, which adopted it and recommended that its proposals be forwarded to the Petroleum Division for further necessary action. The Sub-Committee comprised Syed Naveed Qamar, Asad Alam Niazi, Muhammad Moin Aamer Pirzada and Gul Asghar Khan. Its Terms of Reference were to discuss and formulate new guidelines for the efficient utilisation of Corporate Social Responsibility (CSR) funds, Production Bonuses, and Training Funds for capacity-building, with the objective of ensuring transparency and providing relief to local communities. The meeting was attended by members of the National Assembly, including Anwarul Haq Chaudhary, Shaista Khan, Syed Naveed Qamar, Asad Alam Niazi, Salahuddin Junejo, Shahid Ahmad, and Shazia Marri (as Special Invitee). Senior officials present included Momin Agha, secretary Petroleum Division; Mahfooz Bhatti, additional secretary (Power Division); Jam Muhammad Aslam, additional draftsman/joint secretary Ministry of Law and Justice along with other senior officials. Copyright Business Recorder, 2025
Express Tribune
5 days ago
- Business
- Express Tribune
Pakistan Land Port Authority Bill sails through NA
The National Assembly on Thursday passed the Pakistan Land Port Authority Bill, 2025, with dozens of amendments proposed by PPP lawmaker Syed Naveed Qamar. The bill was piloted by Minister of State for Interior and Narcotics Control Talal Chauhdry in the House. Syed Naveed Qamar proposed certain amendments in clauses 2, 4, 5, 6, 9, 11, 14, 16,18,20, 21, 22, 23, 26, 27, 29, 35, 37 and 38, all of which were adopted by the House after the minister raised no objections. The statement of objects and reasons says that it is expedient to establish a land port authority to provide and administer an integrated system of facilities for cross border movement of goods and passengers at land ports in Pakistan to make provision for its operation, management, development of Land port and matters connected therewith and ancillary matter. It is imperative to establish a robust mechanism to carry out effective coordination with border agencies for trade facilitation in pursuance of the commitments of Pakistan under international agreements and conventions for enhanced land port efficiency and regional port competitiveness.
Express Tribune
17-07-2025
- Business
- Express Tribune
NA panel grills officials on sugar import
The National Assembly Standing Committee on Finance on Wednesday raised several questions regarding sugar imports and the provision of duty exemptions during its meeting chaired by Syed Naveed Qamar. The committee also took up various legislative agenda items, including the Parliamentary Budget Office Bill and a proposed tweak to Corporate Social Responsibility law. Members further questioned officials about a meeting between the government and the business representatives concerning certain budgetary measures. Addressing the issue of sugar imports, the chair asked for clarification from officials. Federal Board of Revenue (FBR) Chairman Rashid Langrial responded that the Ministry of National Food Security would be in a better position to answer. However, Qamar insisted that the FBR must have played a role. Langrial explained that the FBR had implemented the federal cabinet's decision to reduce the 18% sales tax and 20% customs duty on sugar imports. "Reducing taxes and duties on sugar lowers its price in the local market," he told the committee. However, the committee chair suggested that the government should withdraw from involvement in the sugar sector, because there was no shortage of the commodity in the country. Committee member Javed Hanif asked about the International Monetary Funds' (IMF} position on the sugar import. In response, Federal Finance Secretary Imdad Ullah Bosal said they were negotiating with the lender, adding that the government would have to implement the IMF's conditionalities. Later, the chair raised a query about the talks between the government and the businessmen on the issue of their protest. Minister of State for Finance Bilal Azhar Kayani replied that talks were held on Tuesday and a committee has been set up to find solution to the controversial issues within a month. Meanwhile, a report of the sub-committee on the corporate social responsibility law was presented in the meeting. While reviewing amendments to the law, the committee was told that the Securities and Exchange Commission of Pakistan (SECP) opposed the amendments. The SECP chairman informed the committee that these amendments would increase operational costs for companies. However, the chair noted that corporate social responsibility could not be left solely to the discretion of the private sector. The SECP chief said that the issue had come up only for oil and gas firms, but it was being applied to all companies. The finance secretary backed the SECP's contention, saying that "doing so would increase the companies' production cost". Committee Member Nafisa Shah pointed out that companies were already paying 18% sales tax and super tax, yet the Ministry of Finance appeared to object specifically to social sector spending. She added that while the law requires firms to allocate 1% of their profits to CSR, many were spending beyond that threshold. Minister of State Kayani suggested that the Finance Ministry and the SECP should bring their proposals after consulting with the companies. Committee Member Mirza Ikhtiar Baig said that all the chambers of commerce and industry and multinational companies were consulted on this law. The Finance Secretary requested the committee for some more time to consider the matter.
Business Recorder
16-07-2025
- Business
- Business Recorder
PRI financing: IMF asks MoF and SBP to find a way forward
ISLAMABAD: The International Monetary Fund (IMF) has asked the Ministry of Finance and the State Bank of Pakistan (SBP) to sit together and find a way forward for financing the Pakistan Remittances Initiative (PRI) - a scheme for facilitating remittances through formal channels. This was revealed by the finance secretary, while briefing the National Assembly Standing Committee on Finance and Revenue, which met with Syed Naveed Qamar in the chair, here on Wednesday. The committee observed that the remittances' reward paid to banks and exchange companies facilitating overseas inflows through official channels is turning to be a new circular debt. The finance secretary informed the committee that due to fiscal constrain no amount has been allocated for the scheme for the current fiscal year against Rs89 billion earmarked last fiscal year, however, it crossed Rs100 billion. Even if it is paid from the SBP profit, would means indirect payment by the Finance Ministry. 'We are engaged with SBP to find a solution for financing PRI as it has already been decided to revise the scheme,' he added. Govt decides to review Pakistan Remittances Initiative The committee was informed that the reward structure — previously set between 20 to 30 riyals per incremental transaction — has now been revised to a flat rate of 20 riyals across all transaction sizes. The minimum eligible transaction threshold is being raised from $100 to $200. The committee further deliberated upon 'the parliamentary budget office bill 2025,' moved by Rana Iradat Sharif Khan envisaging to establish parliamentary budget office to enhance fiscal oversight, transparency and parliamentary security of budgetary matters. The finance secretary said there is no need of legislation for establishing budget office. Even if it is established, the office should be a lean, he added. The committee constituted a sub-committee under the convenorship of Dr Nafisa Shah for detailed deliberation on the bill and submission of its report within 30 days. Ali Zahid, Arshad Abdullah Vohra, and Muhammad Mobeen Arif, MNAs, will be the members of the newly appointed sub-committee. The committee expressed serious concern over the absence of the Industries and Production secretary, and deferred the agenda item relating to the new electric vehicle policy. The committee deferred discussion on 'The Starred Question No 40', moved by Sharmila Faruqui, MNA, 'The Starred Question No 38', moved by Aliya Kamran, MNA, 'Non-Implementation of Minimum Wages, as announced by the Federal Government in its departments'' matter raised by Syed Rafiullah, MNA, and 'Islamic Banking' matter received from Syed Iftikhar Hussain Naqvi, member Council of Islamic ideology, for the next meeting of the committee. Copyright Business Recorder, 2025
Business Recorder
15-07-2025
- Business
- Business Recorder
Financial property of MoFA: PAC panel highlights serious lapses
ISLAMABAD: A sub-committee of the Public Accounts Committee (PAC) on Monday highlighted serious lapses in financial propriety by the Ministry of Foreign Affairs, leading to a loss of Rs566.43 million due to the obtaining of uneconomical health insurance policies for Pakistan Missions in the United States. The PAC's sub-committee presided over by MNA Syed Naveed Qamar took up the audit report of Ministry of Foreign Affairs (MoFA) for the year 2012-13, terming the disbursement was incurred in sheer violation of the General Financial Rules (GFR) and Public Procurement Rules (PPR) 2004. Sub-committee convener Naveed Qamar said that Pakistani Foreign Missions abroad should not consider public funds as 'spoils of war' and directed the MoFA make efforts to stop wastage of public money. The audit report observed that the insurance policies were procured at knowingly higher rates, circumventing mandatory advertising on the Public Procurement Regulatory Authority (PPRA) website and without proper competitive bidding. The report noted a glaring variation in the rates of health insurance among the missions in New York and Washington, raising serious queries about transparency and due diligence in procurement practices. These actions contravened set rules and procedures for public officers to exercise the same prudence, as they would with their own finances. In response to the audit observations raised in December 2013, the ministry stated that the policies were procured following a cost-benefit analysis and with approval from competent authorities. However, Auditor General of Pakistan (AGPR) rejected the explanation, stressing for a thorough verification of the claims. A Departmental Accounts Committee (DAC) held on February 3, 2014, directed the ministry to provide copies of the three insurance policies adopted by the missions in UN New York, Consulate General New York, and Washington. The committee has also directed the ministry concerned to seek clarification from the Ministry of National Health Services (NHRS) on the upper age limit for dependent children eligible for health insurance for officials posted abroad. The AGPR has recommended that the MoFA present its case before the PAC to address the financial irregularities and provide justification for the substantial loss to the public exchequer. The sub-committee also observed that foreign missions abroad involved in committing serious irregularity by lapsing public funds. The committee instructed that officials involved in irregularity and misconduct must be held accountable. The committee lambasted at the MoFA for not taking audit paras seriously in DAC and PAC. Naveed Qamar observed ambassadors are utilising community welfare funds as charity for personal gains with impunity. The committee; however, pended majority of audit paras due to ill-preparedness of MoFA officials. Audit reports on the accounts of the Ministry of Foreign Affairs for the Audit Years 2011-12, 2012-13, 2014-15, 2015-16, 2018-19, 2020-21, 2021-22 and 2022-23 were examined in sub-committee of PAC. The directives were to examine and analyse the use of huge public funds involved in the hiring of private buildings for Pakistani Missions abroad despite the fact that in some cases the land was either purchased or gifted but the buildings could not be timely constructed. Majority of audit paras were mostly related to the discrepancies in the amounts of security deposits or over payments and unjustified extensions or retention of the rental buildings. Copyright Business Recorder, 2025
