ISLAMABAD, Jan 31 (APP):Senators from Treasury and Opposition benches on Thursday debated the Finance Supplementary (Second Amendment) Bill, 2019, and recommended various options to make the bill more effective and helpful for improving living standard of people.
Participating in the debate, Senators from government benches termed the Finance Bill as positive for people that will be helpful in improving the economic condition of the country besides changing the life of common man.
Senators from opposition benches criticized the bill, suggesting the government to
include inputs from the parliamentarians for further improving it.
Senator Rehman Malik said that the government should address the issue of
unemployment to stop brain drain from the country. He added the government
should ensure environment for creating more jobs for youth.
He said that internal and external debts were burden on the economy that
will increase inflation and also adversely affect the growth rate.
He said that the government should explore the natural resources in
He said that more incentives should be announced for poor people. He added
devaluation of Pakistani rupees was a serious issue which should be considered
on priority basis.
He said that economic policy should be discussed in the parliament to make
it more effective and robust. He added rule of law was must to win the confidence
of business community while the policies should be formulated to support common
Senator Mian Attique Sheikh said that business community was expecting
positive steps from the government while it has also assured them full support.
He said that several positives things were included in the supplementary bill for
business class which he termed as good sign.
He however said that this bill assures industrial revival and it was not only just for
businessmen as people from every class will get benefit from this supplementary bill. He
said that car manufacturers were expecting good results after passing of this bill from
He suggested to plan direct tax system in the country to include the upper class
in the tax net.
Senator Samina Saeed said that the government has a capacity to improve the
economic situation of the country and several innovative steps are being taken in this
regard. She said that friendly countries have fully supported the new government
and hoped that such cooperation will continue till economic stability of the country.
She said that several incentives have been proposed in the supplementary
finance bill to increase business activity by waiving off or decreasing various taxes.
She added now non-filer can start business activities in the country.
She said that foreign investment will be encouraged while the government has
taken several other aggressive steps to boost country’s economy which will give
results in coming days.
Senator Ghaus Muhammad Niazi said that the government was responsible to
maintain economic stability to encourage the business community for further investment.
He added that the government should take serious steps to overcome economic crisis.
He suggested to impose more taxes on tobacco industry to discourage youth from
using tobacco items.