Federal Consolidated Fund: Non-depositing of surplus funds will be reviewed: Aurangzeb

ISLAMABAD: Finance Minister Muhammad Aurangzeb Thursday said that the government “needs every single penny to come into the exchequer,” and that the matter involving the non-depositing of surplus funds into the Federal Consolidated Fund would be reviewed.

He said this in reply to a question posed by Anusha Rahman from Pakistan Muslim League Nawaz (PML-N) during question hour in the Senate.

Rahman asked about the steps federal government is taking keeping in view that amending the Abandoned Properties Act 1975 through Finance Act 2024, she said, has allowed the related government entities to retain the government money and not deposit it in the Federal Consolidated Fund— in violation of the Public Finance (Management) Act 2019.

Finance Minister Aurangzeb says private sector has to lead country

This money, she said, needs to be routed through Finance Ministry to be deposited in national kitty. Quoting an instance, she said, 14 billion rupees were retained by a government body and not deposited in the Federal Consolidated Fund.

“I agree with you— we need every single penny to come into the exchequer,” Aurangzeb replied. The matter, he said, would be reviewed.

“The Treasury Services Accounts mechanism has been devised so that deposits in the government organisations can be netted off in terms of overall requirement on the basis of which we go and borrow from the market,” he said.

“Some organisations have transitioned, and there are some organisations regarding which we have increased our line of sight,” the minister said.

Information Technology and Telecommunication State Minister Shaza Fatima Khawaja, to a question, said, X is blocked in Pakistan on the direction of Interior Ministry.

She admitted that internet speed in Pakistan is “probably not available the way it should be.”

“There are different reasons related to this; the issues involving spectrum, equipment— reinvestment is not taking place due to overall telecom weakness in the health of the telecom sector.”

One Pakistan Telecom-munication Company Limited (PTCL) submarine cable is still impacted that would be fixed, expectedly by the end of this month, she said. In replies to related questions by the senators, Khawaja said, the Web Management System of Pakistan Telecommunication Authority ( PTA) blocks grey trafficking and illegal content under the related provisions of PECA (Prevention of Electronic Crimes Act).

Kamran Murtaza from Jamiat Ulema-e-Islam Fazl (JUI-F) said the government spent Rs50 billion on installing firewall that was slowing down internet and interfering with the privacy of citizens.

The state minister replied that the government was bringing a data protection law to protect the privacy of the citizens.

“Ensuring privacy is the requirement of international businesses. It is also our local requirement,” she said.

“We are facing too much problems on the social media. International businesses are not coming to Pakistan because of financial fraud –sufficient cyber security is not available here.”

National Cybercrime Investigation Agency was established to address these issues, she said, adding that the government would ensure “bulletproof” internet provision for businesses.

Khawaja said 465 SIMs used by dacoits in Kachha area were blocked.

Meanwhile, the house passed two government bills; the Cannabis Control and Regulatory Authority Bill 2024 and National University of Technology (Amendment) Bill 2024. The Cannabis Control and Regulatory Authority Bill 2024 aims to regulate the cultivation of cannabis plant, extraction, refining, manufacturing and sale of derivatives of the plant for medicinal and industrial use. PTI Parliamentary Leader in Senate Ali Zafar said it is the right of people to peacefully protest for rights.

“But the way those who exercised their right to protest were arrested in and outside the parliament premises, is the last nail in the coffin of the constitution and democracy and the right to protest,” he said.

Irfan Siddiqui from PML-N also condemned the arrests of PTI lawmakers from the premises of Parliament House.

Chairman Senate Yousaf Raza Gilani presided over the Senate session. The house was adjourned till Friday (Sept 13).

Copyright Business Recorder, 2024