Debt Limitation Bill among 7 bills cleared by Senate
Pakistan's Upper House approved seven government bills, including an amendment to strengthen the Debt Management Office for effective debt management functions.
- Seven government bills approved by the Upper House.
- Strengthening the Debt Management Office for effective debt management.
- Bills awaiting presidential assent after National Assembly approval.
ISLAMABAD: The Upper House of the Parliament has nodded its approval to seven government bills, including the Fiscal Responsibility and Debt Limitation (Amendment) Bill, 2026, which seeks to amend the Fiscal Responsibility and Debt Limitation Act, 2005, in order to strengthen the Debt Management Office (DMO) by “providing necessary resources for the effective planning and execution of the government’s debt management functions.”
All the seven bills have already sailed through the National Assembly, and now require to be signed into law by President Asif Ali Zardari.
The Fiscal Responsibility and Debt Limitation (Amendment) Bill, 2026, the Export-Import Bank of Pakistan (Amendment) Bill, 2026, the Financial Institutions (Recovery of Finances) (Amendment) Bill, 2026, the Islamabad Capital Territory Condominium (Ownership and Management) Bill, 2026, the Pakistan Infrastructure Development and Assets Management Authority Bill, 2026, the Environmentally Sound Management of Inventory of Hazardous Material on Ships Bill, 2026, and the Pakistan Airports Authority (Amendment) Bill, 2026 received the House’s approval in its Thursday’s meeting.
READ MORE: National Assembly passes bills to boost growth, fiscal framework
State Finance Minister Bilal Azhar Kayani, Law Minister Azam Tarar and Parliamentary Affairs Minister Tariq Fazal Chaudhry presented the respective bills.
The Statement of Objects and Reasons of the Fiscal Responsibility and Debt Limitation (Amendment) Bill, 2026 reads that the Fiscal Responsibility and Debt Limitation (FRDL) Act, 2005, provides for reduction of federal fiscal deficit and ratio of public debt to Gross Domestic Product (GDP) to a prudent level through effective public debt management.
It further reads that the DMO has been established under the Act, and has historically operated as a small establishment. “The DMO, inter-alia, provides critical support to stakeholders. In order to elaborate its scope, enhance its empowerment and provide a plausible framework for the DMO’s anticipated future expansion, an amendment is required.
Copyright Business Recorder, 2026
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