Federal Minister for Finance and Revenue Ishaq Dar chaired a meeting on the establishment of the Pakistan Sovereign Wealth Fund today, where participants finalized the draft law and decided to forward it to the Ministry of Law and Justice.
SAPM on Finance Tariq Bajwa, Chairman SECP Akif Saeed, and senior officers from Finance Division and SECP attended the meeting.
As announced by the finance minister in his budget 2023-24 speech in the Parliament, the meeting reviewed the draft bill for the establishment of the Pakistan Sovereign Wealth Fund for optimal leveraging and better management of GoP assets in the country in line with international standards, policies, and practices.
The establishment of the fund is authorized under the Public Finance Management Act- 2019.
The meeting deliberated upon the technicalities involved, finalized the draft law, and decided to forward it to the Ministry of Law and Justice for legal opinion and further necessary action.
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