Finance Minister chairs meeting to review progress on different draft laws

Islamabad: October 17, 2017

Finance Minister, Senator Mohammad Ishaq Dar here on Tuesday chaired a meeting to review progress on different draft laws initiated by the Ministry of Finance for enactment.

Acting Finance Secretary briefed the meeting that presently there were ten bills relating to different Laws under process at different stages. These included Corporate Rehabilitation Bill 2017, Amendment in Bank's (Nationalization) Act 1974, Loans for Agricultural, Commercial & Industrial Purposes (Amendment) Bill 2017, SBP-BSC Amendment Bill, 2017, The Auditor General’s Functions, Power & Terms and Conditions of Service (Amendment Bill), 2017 etc. The Acting Secretary informed that the Finance Ministry officials were assisting the National Assembly and Senate Secretariats in the processing of these legislative proposals.

The Acting Secretary also apprised the Minister regarding formulation/amendments in different Rules to make them compatible with present day requirements. These included Loans for Agriculture, Commercial & Industrial Purposes Rules, 1973, Draft Investor Education & Awareness Fund Rules, 2017 and Rules under the Financial Institutions (secured transaction) Act, 2016. He said that substantial progress had been made in the recent weeks and the work in this regard would be completed soon.

The Minister stated that the legislative proposals were part of the reform agenda of the government and their timely completion must be ensured. He directed the officials to keep close liaison with the Ministry of Parlaiamentary Affairs and Secretariats of National Assembly and the Senate in this regard.

Senior officials of the Ministry of Finance attended the meeting.