Senate Standing Committee on Finance has expressed its displeasure over absence of Finance Minister Ishaq Dar and refused to approve 'Appointment of Legal Advisors Bill, 2016'. A meeting of the Committee presided over by Senator Saleem Mandiviwala took exception of Finance Minister's regular absence from the committee meeting and some members suggested to place an advertisement in the newspapers, saying the minister has been missing.
The meeting was given briefing by Securities and Exchange Commission of Pakistan on consideration of companies (Appointment of Legal Advisors) Bill, 2016. However, the committee refused to approve the bill unless its suggestions were not incorporated. The committee chairman stated that members concerns were conveyed to finance minister and he was requested many times to attend the committee meetings.
Earlier, committee approved corporate rehabilitation bill moved by chairman of the committee. Secretary Finance Dr Waqar Masood stated that government has also prepared a bill and forwarded it to National Assembly for presenting it in the house in next session.
On another agenda item of briefing the committee on implementation of Senate recommendations to finance bill, he stated that out of total 139 reformations of the House and committee, 36 have been approved for implementation without any hesitation whereas 10 were partially accepted with some conditions. He said there are 22 recommendations which were accepted in principle but would require some time for implementation. As far as implementation of the recommendations was concerned, Waqar Masood stated total 46 have been implemented fully while 12 implemented partially and 22 were at initial stage of implementation.
He also claimed that the Pakistan has made improvement in ease of doing business with its ranking improving in ease of doing index of World Bank from 148 to 144 in the list of countries. Secretary Finance stated government was spending Rs 300 billion from its own resources in three years on internally-displaced persons on their security as well as reconstruction activities as everything from schools and hospital and houses are being rebuilt.