PIPS Roundtable on supplementary finance bill 2018 for honorable members of National Parliament, Tuesday 25th of September, 2018

  • Publication Date: Wed, September 26, 2018

    Pakistan Institute for Parliamentary Services organized a Roundtable on Supplementary Finance Bill 2018-19 for Honourable Members of Federal Parliament on Tuesday, September 25, 2018 at 4 pm to 6.30 pm to discuss the macroeconomic conditions of the country and to analyze the salient features of the Supplementary Finance Bill 2018. Total of 25 participants attended including 11 newly elected Members of National Parliament, 05 academicians and area experts. The proceedings began with the recitation of the Holy Quran followed by the opening remarks by the worthy Executive Director PIPS Mr. Zafar Ullah Khan who welcomed the honourable participants and the learned panelists in the Institute.  Mr. Muhammad Rizwan Manzoor, Research Officer, moderated the first segment.

    Dr. Wasim Shahid Malik, SBP Honorary Chair & Professor of Economics at Peshawar University facilitated the first absorbing session on "State of Economy, Measures Taken & Way Forward" where he presented the current picture of the economy with background issues and possible remedial measures.  Dr. Amanat Ali, Assistant Professor of Economics at Quaid-i-Azam University Islamabad facilitated the second session and underscored "An Appraisal on Salient Features of Supplementary Finance Bill 2018-19". He elaborated different features of the Bill and sketched economic rationale behind the initiatives taken.

    Later on an extensive interactive Q & A session was moderated by Mr. Muhammad Rashid Mafzool Zaka, Director General (Research & Legislation) where Honourable MPs discussed different points on the subject with the worthy panelists.  The key points deliberated included:

    1. Means to increase Exports of Pakistan
    2. Salient Features of Supplementary Finance Bill 2018-19
    3. Incentives to tax payers should be enhanced
    4. Incentives to non-filers was termed unfair and unlawful and it was emphasized that non-filers should be banned from buying property and cars rather than promotion of such non compliance
    5. Development budget cuts in social sectors was criticized and questioned by MPs
    6. Raise in gas prices were put to question as it ll increase the bread for poor
    7. MPs objected to increased debt services and check same by Partnership Interest Free Models for specific profit earning projects with friendly countries as the way forward
    8. Question raised as to why there has not been any austerity or review of huge share of defence spending (22% of total GDP) rather than smaller civilian institutions
    9. Need to see Islamic Banking Models
    10. Presence of large chunk of Military budget within civilian heads was also noticed.

    The event concluded with the vote of thanks by Honourable MNA Molana Asad Mahmood, Hon MNA Saad Waseem and Honourable MNA Ms Shahida Akhtar Ali who thanked Facilitators and acknowledged PIPS Team for organizing a very effective and imperative roundtable discussion.