Pakistan sovereign wealth fund draft law finalised

Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar presided over a meeting on Friday to discuss the establishment of the Pakistan Sovereign Wealth Fund.

During the meeting, the technical aspects were deliberated, and the draft law was finalised. The draft will be sent to the Ministry of Law and Justice for legal opinion and further necessary action, according to a press statement from the finance ministry. The establishment of the fund is authorised under the Public Finance Management Act-2019, the statement added.

As announced by Finance Minister Ishaq Dar, the meeting reviewed the draft bill for the establishment of the Fund.

The fund aims to optimise leveraging and improve the management of government assets in line with international standards, policies, and practices.

Published in The Express Tribune, July 15^th, 2023.

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