ISLAMABAD: Federal Minister for Industries and Production Hammad Azhar on Friday laid before the Senate a copy of the Finance Bill, 2020, which was earlier presented in the National Assembly while the Upper House of the Parliament would initiate debate on the bill and make recommendations accordingly from Monday and onwards.
During a brief session of the Senate presided over by Chairman Sadiq Sanjrani, Azhar announced to lay a copy of Finance Bill 2020 containing the Annual Budget Statement, as required under Article 73 of the Constitution of the Islamic Republic of Pakistan.The Senate session was then adjourned, to meet again on Monday to start debate on the Finance Bill 2020.
Constitutionally, the Upper House of the Parliament can hold extensive debate on the finance bill and devise recommendations accordingly but it has practically no role in budgetary legislation involving finance bill or any money bill since it is completely up to the NA to either completely or partially accept those recommendations or hand them an outright rejection.
Moreover, a finance bill does not land in Senate or seek the Upper House's nod for passage in order to become a law. It only needs to be passed by the NA with simple majority and then requires a ceremonial ascent from the President of Pakistan in order to become a law.
The Article 73 which deals with parliamentary business with respect to money bills reads, "(1) Notwithstanding anything contained in Article 70, a Money Bill shall originate in the National Assembly: Provided that simultaneously when a Money Bill, including the Finance Bill containing the Annual Budget Statement, is presented in the National Assembly, a copy thereof shall be transmitted to the Senate which may, within fourteen days, make recommendations thereon to the National Assembly.
(1A) The National Assembly shall, consider the recommendations of the Senate and after the bill has been passed by the Assembly with or without incorporating the recommendations of the Senate, it shall be presented to the President for assent."
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