Brief on Changes Proposed in Other Laws...

Workmen’s Compensation Act, 1923

Seeks enhancement in wage limit of workers from Rs. 3,000 to Rs. 6,000 for entitlement to compensation.

Factories Act, 1934

The proposed amendments seek to enhance working hours for factories to 12 hours per day and to enhance working hour for women by 3 hours with condition of provision of transport facility.

Profession Tax Limitation Act, 1941

Rationalization of professions tax is sought by limiting maximum levy to Rs. 100,000 per annum.

Public Investments (Financial Safeguards) Ordinance 1960

Main proposed amendment seeks to exempt entities privatized pursuant to the Privatization Commission Ordinance, 2000 from the purview of the Public Investments (Financial Safeguards) Ordinance 1960.

West Pakistan Industrial and Commercial Employment (Standing Orders) Ordinance, 1968

A new category of workmen titled ‘contract worker’ is proposed to be included along its definition.

Companies Profits(Workers Participation) Act, 1968

Major proposed amendments are as follows:

• ‘Worker’ has been re-defined to mean a worker as defined in the Industrial Relations Ordinance, 2002.
• Seeks to relax condition of payment of interest and penalty for defaulting employer to create a trust.
• Enhancements in paid up capital and fixed assets for companies to pay profit share to the workers is sought for companies established after 1 July 2006.
• Amendments have been proposed in categories of workers for entitlement to the share of profit.

West Pakistan Shops and Establishments Ordinance, 1969

Major amendments that have been sought are as follows:

• Provision of mandatory one off day per week in addition to annual, casual and sick and festival leaves.
• Maximum working hours have been proposed at 624 hours for adults and 468 hours for younger ones.
• Exclusion of piece rate workers from payment of over-time.
• Limitation of maximum working hours at 12 hours and 9 hours per day for adult and younger person respectively.

Securities & Exchange Ordinance, 1969

The proposed amendments seek to amendment in the law to define ‘commodity, futures contracts, corporatization, de-materialization, exchange and integration and to further rationalize the law.

Minimum Wages for Unskilled Workers, 1969

Minimum monthly wages for unskilled workers have enhanced to Rs. 4,000 from 3,000.

Workers Welfare Fund Ordinance, 1971

Most of the proposed amendments are of editorial nature that seeks to refer to latest statutes and other seeks to create investment friendly environment by allowing investments in government, government guarantees, non-governmental securities and real estate.

Employees’ Old-age Benefits Act, 1976

The amendment sought enhancement of minimum pension for insured persons to Rs.1,300.

Price Control and Prevention of Profiteering and Hoarding Act, 1977

Enforcement of price control mechanism through on-the-spot trial of offences relating to prices is sought by giving such power to Magistrate.

Capital Value Tax (Finance Act, 1989)

Following major amendments have been proposed through the bill:

• Some editorial changes have been sought and definition of urban areas has been provided.
• Levy of CVT on immovable property has also been proposed.
• Purchase of air tickets has been sought to be exempted from CVT.
• Rate of CVT on purchase value of shares is proposed to be enhanced from 0.01% to 0.02%.