NA Standing Committee Discusses Multiple Bills to Comply With FATF

The 45th meeting of the National Assembly Standing Committee on Finance Revenue and Economic Affairs was held under the chairmanship of Jamil Ahmed Khan, MNA/Acting Chairman.

The following Legislative Business was taken up on the agenda of the meeting:-

  • The Limited Liability Partnership (Amendment) Bill 2020
  • The Companies (Amendment) Bill 2020
  • The Anti-Money Laundering (Second Amendment) Bill 2020

The committee considered The Limited Liability Partnership (Amendment) Bill 2020 and recommended that the assembly may pass the bill. The committee also discussed every clause of The Companies (Amendment) Bill 2020 and made minor amendments.

Director-General Financial Management Unit (FMU) apprised the committee about the salient features of The Anti-Money Laundering (Second Amendment) Bill 2020 required to fulfill the recommendations made by the Financial Action Task Force (FATF).

The committee discussed the Bill and made several amendments, however, it was decided that it will be further discussed on 10th August 2020 at 11:00 a.m.

Some members of the committee have expressed their concerns about the urgency shown by the government for enacting important legislation.

The meeting was attended by MNAs, Aamir Mehmood Kiani, Makhdoom Syed Sami-ul-Hassan Gillani, Mr. Faheem Khan, Mr. Aftab Hussain Siddique, Dr. Ramesh Kumar Vankwani, Mr. Qaiser Ahmed Sheikh, Chaudhary Khalid Javed, Mr. Ali Perviz, Dr. Aisha Ghaus Pasha, Ms. Nafisa Shah, Syed Naveed Qamar, and Mr. Abdul Wasay, MNAs attended the meeting. The meeting was also attended by the senior officers from M/o Finance and Revenue, Law and Justice, Security Exchange Commission of Pakistan, and the Financial Monitoring Unit.

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