ISLAMABAD: In a comprehensive meeting held at the Parliament House, the Senate Standing Committee on Finance and Revenue, chaired by Senator Saleem Mandviwalla, deliberated on a range of financial, administrative, and regulatory issues. Key topics included the “Pakistan Sovereign Wealth Fund (Amendment) Bill, 2026,” state-owned enterprises, asset declarations of government servants, and customs enforcement matters.

According to Senate of Pakistan, the meeting was attended by several senators, with participation from Senator Muhammad Talha Mahmood, Senator Mohammed Abdul Qadir, and special invitee Senator Dr. Afnan Ullah Khan. The committee received a briefing from the Pakistan Banks Association on a proposed non-binding Memorandum of Understanding with the Senate, aimed at fostering structured engagement and capacity development in legislative research.

The committee addressed alleged irregularities in the seizure and auction of confiscated goods by Customs Enforcement Karachi, involving 2,000 bags of skimmed milk. Concerns were raised over discrepancies in the recorded number of confiscated bags, prompting the Chairman to direct the Federal Board of Revenue (FBR) to conduct a thorough investigation and report back within a week.

Additionally, the committee discussed the issue of Super Tax and its impact on economic activity. Concerns about the theft and mismanagement of confiscated items under FBR custody were also raised, including incidents involving fire in FBR godowns. A separate case of missing silver during transportation was examined, with an inquiry underway by the Federal Investigation Agency.

The committee took up a starred question regarding the heads of State-Owned Enterprises and expressed concern over the delays in providing information. The Chairman directed the Ministry of Finance and Revenue to ensure complete responses to avoid further action.

Further discussions centered on asset declarations by government servants, with the Secretary Establishment Division informing the committee about the digitization of the asset declaration system through the FBR platform. The committee also reviewed the “Pakistan Sovereign Wealth Fund (Amendment) Bill, 2026,” questioning the timing of the proposed amendments and their implications for state-owned enterprises.

The committee deferred further consideration of the bill, requesting a detailed clause-wise rationale for each amendment from the Ministry before the next meeting.