A meeting of the National Assembly Standing Committee on Finance approved proposed Federal Government Properties Management Authority Bill, 2021 on Tuesday.

The meeting of the committee presided over by Faiz Ullah was informed that the government wants to create a centralized system for properties. The meeting was further informed that the authority will also set prices, including the sale and purchase of properties and the chairman of the board of authority will be the finance minister, the vice chairman will be selected by the government.

The meeting was also informed that the government wanted to introduce a standardised system for the properties.

The committee also discussed the Microfinance Institutions (Amendment) Bill, 2021 moved by Sajida Begum with salient futures that Small Medium Enterprises (SMEs) are suffering due to lack of facilitation to provide loans to the SME sector.

She said that the proposed law is aimed at empowering the women in Pakistan in small medium industries.

The official of the State Bank of Pakistan said that most banks have approved microfinance policy from their boards and had set up desks for special persons.

Member of the committee Nafeesh Shah said mark-up of microfinance is high. The committee decided to take a detailed briefing on microfinance policy.

The committee also considered agenda regarding non-provision of relief to consistently drought-affected smallholder farmers of Thal area, unable to repay their outstanding loans of Zarai Tarqiati Bank Limited (ZTBL). The meeting was informed that Agriculture Development Bank has refused to provide any relief on its loans provided to farmers.

The senior officials of the bank said that the government had provided 10 percent mark-up subsidy to farmers during corona. The meeting was informed that Agricultural Development Bank loans disbursement for agri sector was substantial.

Officials of the Finance Ministry told the committee Kamyab Pakistan Programme would provide loans to small farmers in Punjab and Sindh. The meeting was informed in the first phase, two districts of Sindh – Umerkot and Tharparkar – have been included.

The meeting of the finance committee directed the president ZTBL to provide the comprehensive report on the measures taken by the ZTBL for facilitating the farmers in drought affected areas.

While discussing the agendas regarding The State-owned Enterprises (Governance and Operations) Bill, 2021, and non-formulation of regulatory framework for crypto-currency in the country, the committee directed that the next meeting will be called on the above said agendas with taking all the stakeholders/experts on-board in this regard.

This report was first published in Business Recorder on February 9, 2022.