Tag Archives: National Assembly

Plan to revive sick textile unit gets nod

on 07/05/2017

The National Assembly`s Standing Committee on Finance has supported the proposal by the textile sector to restructure bank loans of sick units to help their revival. Members of the textile sector informed the committee that the revival of sick units will earn $1 billion in foreign exchange and create five million jobs. Committee chairman Qaiser Ahmed Sheikh noted that exports have declined from $25bn to $20bn in the last four years and the decrease will continue if its basic causes are not addressed. The representatives of the textile sector identified a high cost of LNG, non-clearance of refunds and government borrowing by banks as major causes that led to the decline in exports. Committee members noted that the government borrows heavily from banks and leaves no space for the private sector to obtain loans. The meeting was also informed that exports from Bangladesh have increased from $24bn to $34bn.

Rs12bn approved for housing schemes under next year`s PSDP

on 01/03/2017

The National Assembly`s Standing Committee on Housing and Works has approved Rs12.34 billion for 149 housing schemes to be completed under the Public Sector Development Programme 2017-18. The Ministry of Housing and Works proposed 179 projects at a cost of Rs17.2bn for the next fiscal year, but the committee headed by Haji Muhammad Akram Ansari directed exclusion of 46 projects amounting to Rs 4.8bn. The Pakistan Public Works Department (Pak-PWD) will execute the proposed schemes. The committee was of the view that 46 excluded project were unnecessary and should be taken up after necessary need assessment and completion of the ongoing projects. The committee observed that delay in execution of work on the schemes resulted in PC- I revision, cost escalation and over-burdening the national exchequer.It directed the finance and planning ministries to ensure timely release of funds for the projects to avoid wastage of public money.