Islamabad July 15 2023: Pakistan finanilized draf for the estabilishment of Pakistan Soverign Wealth Fund to facilitate optimal leveraging and better management of government assets in the country in line with international standards, policies and practices.
Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar here Friday chaired a meeting on the establishment of Pakistan Sovereign Wealth Fund.
The meeting deliberated upon technicalities involved, finalized the draft law and decided to send it to Ministry of Law and Justice for legal opinion and further necessary action, said a press statement issued by the finance ministry.
The establishment of the fund is authorized under the Public Finance Management Act- 2019, the statement added.
Special Assistant to Prime Minister on Finance, Tariq Bajwa, Chairman Securities and Exchange Commission of Pakistan (SECP), Akif Saeed and senior officers from Finance Division and SECP attended the meeting, according to press statement issued by the finance ministry.
As announced by the Finance Minister Senator Mohammad Ishaq Dar in his budget 2023-24 speech in the Parliament, the meeting reviewed the draft bill for the establishment of Pakistan Sovereign Wealth Fund.