ISLAMABAD: The National Assembly Standing Committee on Rules of Procedure and Privileges, unanimously, approved the amendment that the Finance Bill (money bill, budget) shall be referred to the Standing Committee on Finance and Revenue before passage and the committee shall lay its report in the House within 15 days after introduction of the bill.

Before passage by the National Assembly, the Finance Bill will now be examined by the Standing Committee on Finance and Revenue.

Earlier, the Finance Bill was not being referred to the Standing Committee on Finance and Revenue and the Lower House of the Parliament passed the bill (budget) about 28 days after thoroughly debate and discussion.

However, the Finance Bill (budget) is laid before the Senate and its Chairman referred it to Senate Standing Committee on Finance and Revenue. The Senate has to prepare its recommendations on the budget and to submit it to the National Assembly within 14 days.

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National Assembly Standing Committee on Rules of Procedure and Privileges met with MNA Muhammad Afzal in the chair at the Parliament House on Friday.

At the outset of the meeting, the committee considered the amendment moved by Syed Naveed Qamar of PPP in Rule 122 of the Rules of Procedure and Conduct of Business in the National Assembly, 2007.

According to amendment in Rule 122 aiming that the Finance Bill shall be referred to the National Assembly Standing Committee on Finance and Revenue and the report of the committee examining the Finance Bill shall also be laid in the House within 15 days of the introduction of bill. After detailed deliberations and discussion, the committee, unanimously, approved the said amendment.

According to given Rule 122 of the Rules of Procedure and Conduct of Business in the National Assembly, 2007, without amendment, “Upon introduction, a Bill, other than a Finance Bill, shall stand referred to the Standing Committee concerned with the subject matter of the Bill: Explanation. - In this rule “Finance Bill” means the Bill introduced each year to give effect to the financial proposals of the Government for the next following financial year and includes a Bill to give effect to the supplementary financial proposals for any period during the financial year.”

Now, National Assembly Standing Committee on Rules of Procedure and Privileges will present its report on the amendment in Rule 122 (unanimously approved by the Committee) in House for passage. If the National Assembly approved the amendment with majority of votes, then it shall become part of the rules and procedure of the Lower House of the Parliament. After it, then, the Finance Bill (budget) shall be referred to the Standing Committee on Finance and Revenue for discussion.

Copyright Business Recorder, 2024