Senate body approves Financial Institutions Bill, 2016

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ISLAMABAD, Jun 28 (APP): Senate Standing Committee on Finance and Revenue here on Tuesday approved Re-consideration of the Financial Institutions (Recovery of Finances) (Amendment) Bill 2016.

The Committee which held its meeting under the chairmanship of Senator Saleem Mandviwala also approved two other bills namely “The credit Bureaus (Amendment) Bill 2016” and “the Securities and Exchange Commission of Pakistan (Amendment) Bill 2016”.

Regarding salaries and facilities of members of Election Commission of Pakistan (ECP), Additional Secretary Election Commission informed the committee that before the 18th amendment, retired judges of High Court were eligible to become ECP members.

He said in 2011, the opposition leader sent four names for members election commission to the prime minister which he approved and forwarded to the president for final approval and on November 9, 2011 the President of Pakistan approved the four people as members of ECP.

He said salaries and facilities were not mentioned in that summary and the ECP prepared a draft for salaries and facilities of the members on June 13, 2011 and forwarded it to the ministry of parliamentary affairs.

The ministry of Parliamentary affairs sent the draft to cabinet division and the cabinet division forwarded it to the Parliament House for approval which was pending till date.

Senator Kamil Ali Agha commenting on the issue said that notification was a must for the appointment of the members.

He demanded that all salaries and facilities given to the members should be recovered and payment should be made through establishment.

Senator Mohsin Aziz said despite being a large organization, the ECP does not have any proper rules and regulations for salaries and it has also different procedure of appointment.

The Accountant General of Pakistan said that salaries and appointment was not the authority of Accountant General of Pakistan Revenue (AGPR).

The committee decided that a report in this regard would be prepared to find out the reality.