{"id":278145,"date":"2022-08-19T09:05:07","date_gmt":"2022-08-19T04:05:07","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=278145"},"modified":"2022-08-19T09:05:07","modified_gmt":"2022-08-19T04:05:07","slug":"senate-body-on-commerce-meets","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/senate-body-on-commerce-meets\/","title":{"rendered":"Senate body on Commerce meets"},"content":{"rendered":"<p>Islamabad: Meeting of the Sub-Committee of Senate Standing Committee on Commerce was held here at Parliament House on Thursday with Senator Fida Muhammad in the Chair. The meeting commenced with deliberations on the matter of gold import. Salman Hanif, Chairman of Gem and Jewellery Association, apprised the committee that total consumption of gold in Pakistan is around 150 to 200 ton annually and irony is that, there has been ban on the import of gold from last 10 years. He further stated that the Finance Minister Miftah Ismail had reduced the withholding tax from 5 to 1 p.c. but the ban of gold import has not been lifted. Ahmed Mujtaba Memon, Special Secretary for Commerce, told the senate body that state bank has declared gold as luxury and non essential item and banned it\u2019s import. He stated that State Bank doesn\u2019t have required amount of foreign reserves to lift ban on the import of gold and it would be lifted after IMF bailout. Senator Anwar ul Haq kakar was of view that the loan is not a problem, the real problem is productive utilization of loan. USA has biggest loan against foreign reserves but they utilize these loans to manufacture of productive items, he added. He further reiterated that gold industry has potential and ban on the import of gold should be lifted. Moreover, after the detail deliberations the committee directed the Gem and Jewellery Association to submit their suggestions to the committee for onward submission to Senate Standing Committee on Finance and Revenue. ONLINE<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Meeting of the Sub-Committee of Senate Standing Committee on Commerce was held here at Parliament House on Thursday with Senator Fida Muhammad in the Chair. The meeting commenced with deliberations on the matter of gold import. Salman Hanif, Chairman of Gem and Jewellery Association, apprised the committee that total consumption of gold in Pakistan [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-278145","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-national"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Senate body on Commerce meets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/senate-body-on-commerce-meets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Senate body on Commerce meets\" \/>\n<meta property=\"og:description\" content=\"Islamabad: Meeting of the Sub-Committee of Senate Standing Committee on Commerce was held here at Parliament House on Thursday with Senator Fida Muhammad in the Chair. The meeting commenced with deliberations on the matter of gold import. 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