Minutes of the Virtual-ZOOM MC Meeting -June 21, 2022

PSPA/MTG-09/06/2022                                                                             June 23, 2022

 All PSPA Members.

 Subject: – MINUTES OF MONTHLY MC- PSPA VIRTUAL MEETING ON ZOOM HELD ON JUNE 21, 2022.

Dear Sir,

  1. The subject meeting was chaired on “ZOOM” by Chairman-PSPA Mr. Anjum

Mehmood Butt. Minutes of this meeting are enclosed herewith;

 

  1. The following were present: –

 

  1.  Mr. Anjum Mahmood Butt            Chairman- PSPA, Kashir Pipe Mill
  2.  Mr. Haider Nadeem                       Vice Chairman- PSPA, H.H. Cold Industries
  3.  Sh. Nadeem Anwar                        Director- A.N Industries
  4.  Mr. Muhammad Hashim                Director- Bashir Pipe Industries
  5.         Mr. Muhammad Ehsan                  Director- Mehboob Steel Pipe Industry                                                                            
  6.         Sh.  Kamran Yousaf                       Director- Karachi Tube Mills
  7.  Mr. Shahzad Sabir                         CEO- Steelex
  8.         Mr. Kamran Hameed Butt             CEO- Kamran Steel
  9.           Mr. Kashif Inayat                          CEO- Inayat Pipe Industry
  10. Mr. Humayun Inayat Director- Inayat Pipe Industry
  11.        Mr. Mannan Ahmad                       CEO- Smat Steel Industries
  12.       Mr. Faisal Salam                            Director- Tayyaba Industries International
  13.       Mr. Umer Waris                              Director- M. P. Industries                  
  14.        Mr. Shahzad Farooq                      CEO- Farooq Steel Industries 
  15. Mr. Junaid Mansuri                         CEO- CMP Pipe Industry
  16.          Mr. Munir Hussain                         GM- Rizwan Industrial Corp.
  17.  Mr. Omer Sheikh                            Rep.- Kareem Pipe Industries
  18.  Mr. Akhtar Ali Naeem                   CEO- Akhtar Ali & Associates                      t.  Col. (Retd.) Maqsood Ahmad        SG-PSPA

 

 

PROCEEDINGS

  1. SG-PSPA sought permission of Chairman-PSPA Mr. Anjum Mahmood Butt to start the proceedings with the recitation of Holy Quran by Munir Hussain GM- Rizwan Industrial Corp.

 

                  POINT/ DECISION                            ACTION/REMARKS.                 

         Approval Of The Minutes Of M.C. Meeting Held On May 30, 2022.

 

  1. The SG-PSPA went through Minutes of the M.C. Meeting held on May 30, 2022. The Minutes were considered to be recorded correctly. Mr. Shahzad Farooq of Farooq Steel Industries (Pvt.) Ltd proposed that the Minutes be approved. Mr. Faisal Salam of Tayyaba Industries International (Pvt.) Ltd seconded the proposal. Thus, these Minutes were approved as such. Then SG-PSPA handed over the forum to              Chairman-PSPA for further proceedings.

 

 

 

 

Briefing on Federal Budget 2022-23 by Mr. Akhtar Ali Naeem, Legal Advisor-PSPA.

  1. Chairman- PSPA welcomed to all members who participated in this meeting and

gave permission to CEO of our law firm, Mr. Akhtar Ali Naeem to start briefing upon this Budget. A two Member team from Akhtar Ali & Associates briefed the PSPA- Members on the salient features of the Federal Budget 2022-23. Briefing lasted upto 2 hours. The salient features of this Budget were the same as discussed/ published in Budget speech/ print and electronic media (the copy of same available). They told that Custom Duties/ Levies and IT/ Sales Tax matters as long as relating to our industries of steel line pipe manufacturers are concerned for which necessary details/ Gazette notifications are not yet published. They will provide us these details when ever issued by the Govt. of Pakistan. Then, we will act upon accordingly and will fight our cases at appropriated levels, if there will be some anomalies in this Budget.     

Appointment of new Auditors of PSPA.

 

  1. The point for appointment of new Auditor of PSPA for the financial year 2021-22

onward was raised by SG-PSPA. This point was under discussion since last year Audit as Auditor of this Association was increasing his fee/ dues after every year. The last Audit fee and other dues became nearly about Rs. 190,000/-. So, SG-PSPA found a new Audit firm for our Association with the help of our Law Firm-Akhtar Ali & Associates. SG-PSPA further sought help from other worthy members also. This matter was also brought in knowledge of Chairman-PSPA time to time. So, proposal was floated in the house of this monthly MC meeting of PSPA for appointing new Auditor for our Association who can charge less as compared to dues mentioned above. Chairman and MC of PSPA gave approval of this proposal and a resolution was passed for appointing a new Auditor firm- F. Khalid & Co. Charted Accountants of CEO, Mr. Tahir Hussain, Office # 06, 2nd Floor, Hajvery Shopping Centre, Chuburji, Lahore, Tel: 0300-4865522. The Annual Audit fee and other misc dues/ charges regarding documentation of our Association at SECP etc. of this firm will be amounting to Rs. 70,000/- annually. The letters for relinquishing the old Auditor and appointing the new Auditor will be issued by office of this Association under light of this resolution.        

Advance Annual Subscription.

 

  1. Chairman PSPA, once again urged upon leftover members to clear their

outstanding dues against PSPA.     

 

  1. There being no other point, the Meeting came to an end with a vote of thanks to

the chair.

 

Thanking you,

 

Col. (Retd.) Maqsood Ahmed

Secretary General -PSPA

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