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Senate Panel Summons Chairman NAB Over Meddling in Board Appointments

The Senate Standing Committee on Finance and Revenue has summoned the Chairman National Accountability Bureau (NAB) for preventing the appointment of the directors in the boards of different companies.

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The meeting of the committee was held under the chair of Senator Talha Mahmood in which the matter pertaining to not allowing any accused person appointment in the board of any organization was discussed.

Senator Saleem Mandviwala revealed that the Securities Exchange Commission of Pakistan (SECP), on the directions of the State Bank of Pakistan as well as NAB, is preventing the people from becoming a director of any board of any organization if there is an inquiry pending against it.

The SBP has also rejected the application of credit card of former chairman Senator Farooq H Naik as an inquiry is pending against him.

Upon which, the Chairman Committee said that Parliament is a supreme body and respect of every member is mandatory. He asked the relevant departments to conduct an inquiry into this matter and present the report within 15 days. He also directed the concerned department to furnish details of those persons who were prevented from becoming the directors on the above-mentioned allegations.

Senator Saadia Abbasi said that NAB is harassing her family members in the name of checking bank accounts. My mother died five years ago and now NAB is asking for her accounts information. Besides, the NAB has also sent a questionnaire to one of my relatives abroad upon which the committee chairman senator Talha Mahmood summoned the NAB Chairman to explain this matter.

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The committee members have a point of view that the advisor to the PM on Finance should brief about the mini-budget including the state of the economy. The Chairman committee said that the government should formulate the proposals with regard to mini-budget keeping in view the masses’ interest.

The Secretary of Finance informed the members that departments are working on the mini-budget and it would be presented to Parliament after the approval of the federal cabinet.

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