ISLAMABAD: The Upper House of the Parliament Monday passed a resolution for empowering the Senate to pass the Money Bill, including the Finance Bill.
Senator Mohammad Azam Khan Swati moved the resolution which said the houses recommended the government to make necessary amendments in the constitution of the Islamic Republic of Pakistan, 1973, to empower the Senate of Pakistan to pass the Money Bill, including the Finance Bill.
The house also passed another resolution moved by Senator Osman Saifullah Khan seeking withdrawal of high denomination Rs 5,000 notes from circulation in order to reduce illicit money flow.
The resolution that was endorsed by majority of law makers said that withdrawal of Rs 5,000 notes would encourage the use of bank accounts and reduce the size of undocumented economy.
Minister for Law Zahid Hamid said that the withdrawal of the notes would create crises in the market and the people would resort to foreign currencies in absence of Rs 5,000 notes.
The house also received two reports of Chairman, Senate Standing Committee on Defence, Senator Mushahid Hussain Syed including report of the committee on the bill to amend the National Command Authority Act, 2010 [The National Command Authority (Amendment) Bill, 2016] and report of the Committee on Public Petition.
The house referred four bills to the relevant committees which were presented in the senate included Senator Mohammad Azam Khan Swati's bill "The Transplantation of Human Organs and Tissues (Amendment) Bill, 2016", Senator Mian Muhammad Ateeq Shaikh's bill "The Islamabad Capital Territory Private Education Institutions (Registration and Regulation) (Amendment) Bill, 2016, The Constitution (Amendment) Bill, 2016 and The Constitution (Amendment) Bill, 2016 introduced by Senators Sassui Palijo and Mukhtiar Ahmad Dhamrah.
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