Islamabad, May 19, 2026: The meeting of the Senate Standing Committee on Finance and Revenue was held today at Parliament House, Islamabad, under the Chairmanship of Senator Saleem Mandviwalla. The meeting was attended by Senator Muhammad Talha Mahmood and Senator Muhammad Abdul Qadir. The state minister for finance and revenue also attended the meeting.
At the outset, the Committee took up discussion on the Government Bill titled “The Export-Import Bank of Pakistan (Amendment) Bill, 2026.” The Committee was briefed on the functions and organizational structure of Pakistan Export-Import Bank and was informed that the institution is a state-owned entity. The Committee was further apprised of the composition of the Board of Directors and the procedure for the appointment of the Chief Executive Officer (CEO). It was informed that the Board would comprise two government nominees, while the remaining members would be drawn from the private sector. After detailed deliberations and discussion, the bill was unanimously recommended by the Committee for passage by Senate.
During the meeting, the Chairman expressed serious concern over delays in the appointment of Board Members and Chief Executive Officers in various public sector entities. He emphasized the need for formulating an effective policy framework to prevent such delays, which adversely affect the performance and efficiency of institutions.
The Committee also sought comprehensive details regarding vacant positions of Board Members and CEOs in various departments and organizations, along with the dates on which these positions became vacant.
The Committee also considered and unanimously recommended “The Fiscal Responsibility and Debt Limitation (Amendment) Bill, 2026 for passage by the Senate.” Furthermore, the Committee recommended that the appointment of the Director General (Debt) be made on a priority basis.
The Committee then discussed money bill titled the Customs (Amendment) Act, 1969. The Committee was briefed on the proposed amendments clause by clause. It was informed that the purpose of these amendments is to give effect to the financial provisions of AIDEP 2021-26. Following detailed deliberations, the Committee unanimously recommended the Customs (Amendment) Act, 2026.
Another bill titled “The Netting of Financial Arrangements Bill, 2026” was also discussed during the meeting. Representatives of the State Bank of Pakistan briefed the Committee on the advantages of the netting facility in ensuring the smooth flow of transactions and efficiency within financial markets. After discussion, the Committee deferred consideration of the bill and directed that representative from the Pakistan Banks Association, Pakistan Stock Exchange, Federal Board of Revenue, and Securities and Exchange Commission of Pakistan be invited to the next meeting for further deliberations.
