ISLAMABAD: The National Assembly’s Standing Committee on Finance, on Wednesday, postponed briefing on the proposed State Bank of Pakistan (Amendment) Bill 2021 and on the International Monetary Fund (IMF) programme as mover of agenda items -- Aysha Ghaus Pasha and Qaiser Ahmed were unable to attend the meeting.
Member of the committee Nafeesa Shah argued that as the State Bank of Pakistan (Amendment) Bill 2021 is a very important matter, the committee should discuss it in detail.
However, the chairman of the committee stated that the matter must be put off to be taken up later on and the governor SBP should also be asked to turn up at the next meeting.
The secretary finance said the SBP law is not an ordinance but it is a bill and the parliament is sovereign; therefore, it is up to the Parliament to make decisions.
The committee members were informed that the deputy governor SBP is here to explain about the bill.
The committee members pointed out that this bill has not been laid in the parliament.
The Ministry of Parliamentary Affairs informed the committee that the Ordinance issued on the State Bank of Pakistan and any more Ordinances as such are validly promulgated by the President because the President enjoys full mandate to promulgate Ordinances as per provisions of the Constitution of Pakistan, according to Babar Awan, Adviser to the PM on Parliamentary Affairs.
The Pakistan Muslim League-Nawaz leader Ahsan Iqbal said that there are reports or it seems the bill is being reconsidered after approval from the federal cabinet.
The chairman of the committee assured the members that this law would be discussed in details.
The secretary Parliamentary Affairs stated that the president of Pakistan is part of the parliament under the Article 150 and when ordinance is issued, it becomes bill when presented in the parliament.
The committee members were of the view that the government has been relying on ordinance and was not giving importance to the Parliament.
We should raise voice for our rights and if the government is going to impose Rs700bn taxes without approval of the parliament, there is no point of sitting in the parliamentary committees.
The committee chairman stated that the committee endorses views of Ashan Iqbal and others but stated that Bbabar Awan also shared that a number of money bills have also been imposed.
This is a constitutional discussion and there is a need to confine discussion to the extent whether it is constitutional or unconstitutional.
Naveed Qamar said that it is unconstitutional.
Can we impose federal budget through ordinance, questioned Ali Pervaiz, the PML-N committee member.
However, the secretary finance stated that there is a question about sovereignty of the parliament, but executive can also exercise its power in an emergency situation.
Ahsan Iqbal said that the money bill has material impact on people.
As per constitution money bill cannot be passed without the approval of the parliament. The committee decided to summon Law Minister, Attorney General of Pakistan as well as Minister for Parliamentary Affairs in the next meeting on the matter of money bill through ordinance.
A press release issued by the NA Secretariat stated: the Committee offered fateha on the sad demise of Irfan Qaiser Sheikh, son of Qaiser Ahmed Sheikh, MNA/member of the Committee and former Chairman of Standing Committee on Finance and Revenue.
The press release issued by the NA Secretariat stated: The Committee deferred agenda pertaining to disbursement of USD-500 million to Pakistan from IMF revival of the fund programme and followed commitments with the board and discussion on the Act of State Bank of Pakistan (SBP) on the request of the committee members. The Committee also deferred the legislative business owing to short of time and decided that the same will be considered in the next meeting.
The meeting was attended by Amjid Ali Khan, Makhdoom Syed Sami-ul-Hassan Gillani, Jamil Ahmed Khan, Faheem Khan, Dr Ramesh Kumar Vankwani, Muhammad Israr Tareen, Ahsan Iqbal Chaudhary, Chaudary Khalid Javed, Ali Pervaiz, Nafisa Shah, Hina Rabbani Khar, Abdul Wasay, MNAs and Syed Javed Hasnain, MNA/mover of the bill, it said.
Syed Naveed Qamar, MNA/member of the Committee attended the meeting through video link. The meeting was also attended by the senior officers from M/o Finance and Revenue, M/o Law and Justice, State Bank of Pakistan (SBP), Federal Board of Revenue (FBR), and Security Exchange Commission of Pakistan (SECP), it added.
Copyright Business Recorder, 2021
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