The National Assembly on Monday passed 'The Banks (Nationalization) (Amendment) Bill, 2020' for regulatory supervision of all non-banking institutions, including National Investment Trust Limited (NITL), under the regulatory purview of Securities and Exchange Commission of Pakistan (SECP).
According to statements of objects and reasons, regulatory supervision of all non-banking intuitions including National Investment Trust Limited (NITL) has been brought under the regulatory purview of Securities & Exchange Commission of Pakistan (SECP).
It is, therefore, necessary to exclude NITL from the purview of 'Banks (Nationalization) Act, 1974'. Besides, Small Business Finance Corporation (SBFC) and Regional Development Finance Corporation (RDFC) were merged and SME Bank Limited was formed, therefore, exclusion of names of SBFC and RDFC from section II-A was also proposed.
The House passed 'The Federal Government Employees Housing Authority Bill, 2020.' It was moved by Minister for Housing and Works Chaudhary Tariq Bashir Cheema.
The government also withdrew 'The Whistleblower Protection and Vigilance Commission Bill, 2019.' A motion to withdraw the bill was moved by Minister for Parliamentary Affairs Azam Swati.
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