Islamabad: The Senate Standing Committee on Finance and Revenue convened at Parliament House under the leadership of Senator Saleem Mandviwalla, where it approved the Government Bill titled “The Netting of Financial Arrangements Bill, 2026,” and held discussions on various financial and administrative issues, including the digitalization of the Benazir Income Support Programme (BISP) and faculty salaries under the Tenure Track System.
According to Senate of Pakistan, the meeting saw participation from prominent senators and representatives of key financial institutions, including the State Bank of Pakistan and Pakistan Banks Association. The Committee considered the implications of the proposed netting legislation, which aims to align Pakistan’s financial sector with international standards by providing legal certainty in financial transactions during insolvency. After comprehensive deliberations, the Committee approved the bill, highlighting its potential to strengthen the country’s financial framework.
The Committee also discussed the digitization of BISP payments, with Minister for Finance and Revenue Senator Muhammad Aurangzeb emphasizing the government’s commitment to enhancing transparency and efficiency through digital wallets. Chairperson BISP Senator Rubina Khalid underscored the need for a permanent operational workforce to manage the Programme’s growing responsibilities, while Senator Muhammad Talha Mahmood recognized the increasing appeal of public sector employment.
In addition, the Committee addressed issues related to the issuance of revised payslips for Senate Secretariat staff and directed the Accountant General Pakistan Revenues to resolve the matter promptly. Discussions on faculty salaries under the Tenure Track System led to a decision for a joint review by relevant ministries to formulate a consensus-based proposal.
Other topics included the grant of honorarium for medical staff at Parliament House, with the Committee instructing the Ministry of National Health Services to revise the list of eligible officers. The Committee also deferred a decision on a complaint regarding unauthorized bank withdrawals pending court proceedings, and received updates on the incorporation of Committee recommendations into the Federal Budget 2026-27. Additionally, a query on the appointments and terms of service for heads of State-Owned Enterprises was resolved following the provision of requested information by the Ministry of Finance and Revenue.