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Senate Committee moves motion against commerce ministry – Pakistan Observer

Published

4 گھنٹے ago

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Ijaz Kakakhel
Islamabad

A legislative body of Upper House of Parliament on Tuesday moved a privilege motion against the ministry of commerce officials responsible for non- exclusion member Parliament from the TDAP Board since 2021 abrogating the law and the Parliament.

The privilege motion moved unanimously during a meeting of the Senate Standing Committee on Commerce, which was held today at parliament house while Senator Anusha Rahman was on chair.

This issue has persisted on the agenda for several meetings, and after a thorough review of the records of the Commerce ministry, it was revealed that some officials of Ministry of Commerce have consistently excluded the parliamentary members from the TDAP board since 2021, without any legal authority using unsubstantiated excuses.

Committee members took serious exception to the Ministry of Commerce officials for consistently misleading the Committee’s proceedings regarding the failure to acknowledge Senator Saleem Rehman’s ratification to the TDAP board from 2021 to 2023 and later the delay continued by some ministry officials when Senator Bilal Ahmed Khan, despite his nomination by the Chairman of the Senate and subsequent ratification by the Senate Committee on Commerce in September 2024, he was not notified and the matter was unnecessarily made a bouncing ball between Ministries of Finance and Law.

Senator Bilal Khan lamented that this exclusion not only violates the rules of parliamentary conduct and the sanctity of the custodians of the House but also indicates ulterior motives, given that the TDAP received substantial funds from the EDF, which could evade oversight by Parliament.

Following due deliberations, the Committee concluded that no legal justification exists for the exclusion of parliamentarians as claimed by the ministry of commerce under the SOE Act nor under a letter of law division of 2020, which have mysteriously been made applicable to the Senators and MNAs being parliamentarians but at same time not made applicable to the nomination of the federal minister to board who is also a parliamentarian.

The Committee took strong exception to the action of officials in Commerce Ministry who without seeking legal advise from Law or Prime Minister, appointed an Advisor as the TDAP board chair in 2021, without legally authorized by Prime Minister being Federal Minister incharge.

The Committee asked for strict action against officials of commerce ministry who kept parliamentarians excluded from Board on one excuse or another in last 4 years and also those who facilitated appointment of an Advisor as TDAP chairman without authorization by the then Federal Minister Commerce. The officials of Ministry of Commerce failed to appreciate that the “status” of Federal Minister does not arrogate ‘rank’ of Federal Minister on anyone, be it an Advisor or SAPM.

After detailed deliberations it was concluded that the matter be referred to the Privilege Committee of Senate and for Establishment division to be involved to conduct inquiry on delinquent officers serving in Ministry of Commerce and take action if any inefficiency and misconduct is established.

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Pakistan

Concrete strategy in place to meet future energy demands: Awais – Pakistan Observer

Published

14 منٹ ago

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اکتوبر 9, 2024

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Minister for Power Division Sardar Awais Ahmed Khan Leghari on Tuesday said that concrete strategy has been inplaced to meet the future energy’s demands of the country.

“As energy always plays a key role in economy of the country so generation, transmission and distribution system of energy sector is being revamped on modern lines,” he said while addressing a function here at National University of Science and Technology.

He said the environment friendly renewable energy was also being promoted in the country adding that around 17,000 megawatts were going to be added to the system by 2034. Generation, transmission and distribution were all part of the power sector but in the past the generation part has not been added in healthy manner means at least cost methodology. However, he said we were committed to adding generation on least cost methodology basis in the future.

He said issues with Independent Power Producers were being resolved amicably adding that he is grateful to IPPs for their cooperation to revise the contract condition.

He was of the views that the power has to be generated by the private sector and there should not be a single purchasers like Central Power Purchasing Agency in the country. There must be a competition which would not only help come down the prices of electricity but also create a competitive environment in the country.

Regarding, power distribution companies, the minister said that a sum of Rs 595 billion were budgeted every year just for their losses and power theft. “It is unbelievable, unacceptable and also not sustainable and we have Rs 600 billion extra to fund institution like NUST etc,” he added.

He said good professional board member were being put in place in Board of Directors of these companies to run it in efficient manners. “It is none of the job of me, a secretary or additional secretaries etc to run these entities,” he said.

He went on to say that in next three years, three DISCOs would be privatized while two DISCOs with Rs 150 billion loss would be concessional model reforms.

Regarding transmission system, the minister said that earlier National Transmission and Despatch Company board was not working but now a senior advisor of LUMS was heading it. The NTDC would be bifurcated into three entities, he added.—APP

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Pakistan

‘Indonesia-South, Central Asia business Forum’ yields transactions worth $8.33b – Pakistan Observer

Published

3 گھنٹے ago

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اکتوبر 9, 2024

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At the end of the Indonesia-South and Central Asia Business Forum (INASCA), worth $ 8.33 billion in business and investment are expected in Indonesia through different 50 trade and investment deals in Jakarta, Indonesia.

The Indonesia-South and Central Asia Business Forum (INASCA), organized by the Ministry of Foreign Affairs in Jakarta on October 7, 2024, concluded with remarkable outcomes.

This extraordinary achievement follows a series of events under the “Road to INASCA” initiative that began earlier this year.

The forum successfully secured 50 business and investment deals, amounting to $ 8.33 billion. The business delegations from different chambers of Commerce from Pakistan and other South and Central Asian countries, including Bangladesh, Sri Lanka, India, Uzbekistan, and Kazakhstan participated in INASCA and promoted trilateral economic integration between Indonesia and the countries of these two regions.

Businessmen from various business sectors of Pakistan, including textile, oil consumption, and IT and technology sectors, have signed various agreements in INASCA.—APP

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Pakistan

FBR decides to bring  2.8 million households into tax net – Pakistan Observer

Published

7 گھنٹے ago

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اکتوبر 9, 2024

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ISLAMABAD –  The Federal Board of Revenue (FBR) decided to bring 2.8 million potential households into the tax net, the sources close to the development said on Tuesday.

The FBR’s move is expected to increase the national economy’s size by approximately Rs1.6 trillion.

FBR spokesperson Bakhtiar Muhammad said that there are nearly 3.5 million individuals in the country eligible to pay taxes, but 2.8 million of them are still not contributing.

On the other hand, the FBR achieved significant success.

In a major sales tax evasion case uncovered by the FBR, the Sindh High Court rejected the plea to quash the FIR filed against Millat Industrial Products Limited and its chairman, accused of being involved in alleged sales tax fraud.

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Pakistan

Pakistan PM announces upcoming $2 Billion agreements with Saudi Arabia – Pakistan Observer

Published

8 گھنٹے ago

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اکتوبر 9, 2024

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ISLAMABAD – Prime Minister Shehbaz Sharif announced signing agreements worth over $2 billion with Saudi delegation led by Investment Minister Khalid bin Abdulaziz Al-Falih who is due in Asian nation from October 9-11.

PM shared the development in a cabinet meeting as he expressed confidence in agreements’ potential to enhance Islamabad’s economic landscape. He also stressed importance of these agreements and vowed not to allow any disruption of efforts to strengthen the economy.

Saudi delegation is visiting Pakistan as both Islamic nations are working to deepen trade and investment cooperation.

Saudi Crown Prince and Prime Minister Mohammed bin Salman also reaffirmed Kingdom’s commitment to expedite a $5 billion investment package. The country of 242 million is keen to enhance collaboration in trade, defense, and energy sectors, particularly with Arab nations.

The establishment of Special Investment Facilitation Council (SIFC) further aims to streamline investment processes and attract foreign capital to vital economic sectors.

Pakistan and Saudi Arabia hold strong business ties rooted in historical and cultural connections. Riyadh remains major investor in Pakistan, especially in energy and construction, and bilateral trade is growing, with Pakistan exporting textiles and rice.

Kingdoms’s Vision 2030 also opens new opportunities for Pakistani businesses in sectors like tourism and technology, further solidifying their economic partnership.

Pakistan, Saudi Arabia explore enhanced Cooperation to boost ties

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