ISLAMABAD: The National Assembly, on Monday, before presenting Budget-2021-22 in the house passed as many as 10 bills, including ‘’The Privatization Commission (Amendment) Bill, 2020”, “The Loans for Agricultural, Commercial and Industrial Purposes (Amendment) Bill, 2019”, and “The Hyderabad Institute for Technical and Management Science Bill, 2021”.
According to sources, the Budget-2021-22 will be presented in the House on June 11 for discussion, and it would be passed by the end of this month (June).
The National Assembly passed 10 bills with a majority vote, (i) The University of Islamabad Bill, 2020; (ii) The Privatisation Commission (Amendment) Bill, 2020; (iii) The Enforcement of Women’s Property Rights (Amendment) Bill, 2020; (iv) The Loans for Agricultural, Commercial and Industrial Purposes (Amendment) Bill, 2019; (v) The Global Change Impact Studies Centre (Amendment) Bill, 2020; (vi) The National College of Arts Institute Bill, 2020; (vii) The Protection of Communal Properties of Minorities (Amendment) Bill, 2020; (viii) The Islamabad Capital Territory Charities Registration, Regulation and Facilitation Bill, 2020; (ix) The National Vocational and Technical Training Commission (Amendment) Bill, 2021; and (x) The Hyderabad Institute for Technical and Management Sciences Bill, 2021.
According to clause 3 of “The Privatization Commission (Amendment) Bill, 2020,” “The Commission may open and maintain its accounts at such scheduled banks as it may determine. The Commission my open an account in a scheduled bank with high credit quality assigned by a credit rating agency recognized by the State Bank of Pakistan. The Commission shall annually review the credit quality of bank in which the Commission is maintaining an account and only continue to maintain account in the bank with high credit under sub-section (2).”
The clause 3 of the bill says “The Prime Minister of Pakistan shall appoint the Chairman, Secretary and members.”
The Loans for Agricultural, Commercial and Industrial Purposes (Amendment) Bill, 2019 was passed to digitalise the loan documents.
According to objects and reason of the bill, “in order to avoid any legal implications as well as to safeguard the loans/funds of the Bank, the amendments in the “Loans for Agricultural, Commercial and Industrial Purpose Act, 1973” are imperative and essential across the Pakistan to safeguard the financing of the Banks/DFIs under digitalized/E-Pass Book system.”
According to objects and reasons of The Enforcement of Women’s Property Rights (Amendment) Bill, 2020, the legislation “provides for protection of rights of ownership and possession of properties owned by woman ensuring that such rights are not violated by means of harassment, coercion, force or fraud.”
The objectives of “The Islamabad Capital Territory Charities Registration, Regulation and Facilitation Bill, 2020”, insures that the charity could not be misused in any illegal activities such as terrorism, sectarianism, money laundering, discord, distortion or the activities declared illegal by any national or international law.
Copyright Business Recorder, 2021
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