Senate committee seeks details of IMF package

Sherry Rehman says Asad Umar brought a programme from IMF after bypassing the parliament

ISLAMABAD: Senate Standing Committee on Finance summoned Finance Minister Asad Umar in its next session for briefing on surge in inflation and conditions laid down by International Monetary Fund for its programme to Pakistan. The committee also called Minister of State for Revenue Hammad Azhar for briefing on implementation of second supplementary finance bill.

Finance ministry and officials of the State Bank of Pakistan (SBP) briefed the committee which was presided over by Pakistan Peoples Party (PPP) Senator Farooq H Naek on the hike in prices of commodities and increase in interest rate of Islamic banking. However, Finance Minister Asad Umar could not attend the meeting.

PPP Senator Sherry Rehman maintained that the finance minister had brought a programme from IMF after bypassing the parliament. She asked of the finance minister to disclose the details of IMF package to the parliament. If a budget on the dictation of the international money lender is presented, then it will be rejected by the House, she added.

The committee summoned Finance Minister Asad Umar and Minister of State for Revenue in the next session.



Committee Chairman Farooq Naek remarked that Umar and Azhar would brief the house about the performance of their ministries in the next meeting.

Senator Rehman maintained that both the ministers were ignoring the committee. She said that the finance minister is stuck in tax amnesty scheme for the past several days. Earlier, they claimed they would neither take loans nor would give tax amnesty to anyone, she added.

Rejecting Senator Rehman’s claims, Pakistan Tehreek e Insaf (PTI) Senator Mohsin Aziz remarked that tax amnesty scheme was necessary for cleansing the black money.

SBP officials observed that Islamic bank was rapidly flourishing in the country.

Taking a jibe at the finance minister, Senator Rehman said that Asad Umar was focused on taking loans. His portfolio should be changed to minister for debts, she added.

Pakistan Muslim League-Nawaz (PML-N) Senator Ayesha Raza Farooq noted that hurdles were being created for those investing in stock market.

“The investors are being asked to provide data of their children, which is a hindrance in making investments. The stakeholders will lose their confidence this way,” she said.

On this, ministry officials said that acquiring data of children was now a part of regulation.