The National Assembly Standing Committee on Finance and Revenue has recommended that the Ministry of Finance redraft the Export-Import Bank of Pakistan (Amendment) Bill, 2026 after members voiced reservations during a clause-by-clause review of the proposed legislation.
The committee’s 22nd meeting was held under the chairmanship of Naveed Qamar, MNA. Following detailed deliberations, members directed the ministry to incorporate their observations into a revised draft and submit it well before the next sitting. Consideration of the bill was deferred until the updated version is presented.
Officials from the Finance Ministry briefed the committee that the proposed amendments are intended to strengthen governance and oversight mechanisms at the Export-Import Bank of Pakistan. The ministry stated that the revisions aim to align the institution’s legal and operational framework with the State-Owned Enterprises (Governance and Operations) Act, 2023 and the regulatory standards of the State Bank of Pakistan.
Among the proposed changes is the formal introduction of a definition for “independent director,” along with the removal of outdated provisions in the existing law. The bill also seeks to apply the SOE Act to the bank, with limited exceptions related to the appointment and powers of the bank’s president and certain operational matters.
A performance-based framework has been proposed to regulate the appointment, tenure, evaluation, resignation, and removal of the bank’s president. According to the draft, these processes would be subject to fit-and-proper criteria as well as enhanced board approval requirements. The framework includes participation by the ex-officio director representing the Ministry of Finance, reflecting an effort to tighten institutional checks and balances.
During the meeting, the committee also recorded that consensus had been reached between the government and members on two separate legislative proposals: the Netting of Financial Arrangements Bill, 2025 and the Parliamentary Budget Office Bill, 2025. The ministry was directed to furnish updated drafts reflecting earlier recommendations to ensure alignment before final consideration in the next session.
The Companies (Amendment) Bill, 2026 was also placed on the agenda. Committee members observed that a similar bill had already been passed by the National Assembly and is currently pending before the Senate, raising concerns about potential duplication. However, the mover of the new proposal argued that her version differs in scope and seeks to make corporate social responsibility spending mandatory for private sector entities.
In response, the committee instructed the relevant ministry to provide detailed data on CSR spending patterns by private companies to inform further deliberations. Consideration of the bill was deferred pending receipt of this information.
The committee briefly examined the Public Sector Development Programme but, citing time constraints and a statutory deadline requiring submission of recommendations before March 1, recommended its approval at this stage. Members noted that more comprehensive deliberations on the PSDP would be undertaken in a subsequent meeting.
The session underscored the committee’s focus on strengthening governance standards across financial and corporate institutions while ensuring legislative coherence. With multiple bills under review, the coming weeks are expected to shape key regulatory and institutional frameworks within Pakistan’s financial and corporate sectors.
Follow the PakBanker Whatsapp Channel for updates across Pakistan’s banking ecosystem.