ISLAMABAD: Senate Standing Committee on Finance was informed here Wednesdaythat the third loan tranche worth of US$1 billion from Saudi Arabia waslikely to be released during current month.
A senior official of ministry of finance informed the committee that thegovernment had already received $2 billion from Saudi Arabia while theremaining $1 billion would be issued during current month.
The meeting of the committee was held here under the chairmanship ofSenator Farooq H Naik.
To a question by Senator Talha Mehmood about the news of $2 billion loanfrom China, the official said he could not confirm the exact figures butnegotiations in this regard were in process between the two countries.
The committee asked the ministry of finance to present details and currentstatus of talks with United Arab Emirates, and China regarding loanagreements in the next meeting.
Earlier, the meeting considered and discussed a Bill titled the BankingCompanies (Amendment) Bill, 2018 presented by Senator Mian Raza Rabbani andreferred to the House for further approval.
Discussing a private member’s Bill titled “the Maternity and PaternityLeave Bill, 2018”, the presenter of the Bill Senator Quratulain Marri saidmaternity leave should be enhanced from existing three months to six months.
The committee, however, agreed to recommend the enhancement of leaves tofour months. The committee directed that a comprehensive draft of the Billshould be prepared by consulting all stakeholders and deferred it till nextmeeting.
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The meeting also discussed on a point of public importance raised bySenator Muhammad Ali Khan Said in the House regarding problems faced byadvocates and politicians in opening their account in the banks or anyother financial institutions.
Muhammad Ali Saif said the advocates, politicians, and media persons werenormally denied by the banks to open their accounts and to issue creditcards to them.
Senior official from State Bank of Pakistan (SBP) said there was not asingle case in which any politician or a parliamentarian was denied by anybank to open the account. – APP
However, he said with respect to issuance of credit cards or loans,different banks have their own policies.
The committee recommended the SBP to prepare a Standard Operating Procedurethat if a person regardless of his or her affiliation must not be deniedany services of the banks if he or she fulfills all requirements.
