• Govt opposes bill introduced by PTI member, backed by some PPP, PML-N & BAP senators
• Ministers say govt consent required to amend SBP law; movers insist it’s not a ‘money bill’
• House also clears bill meant to increase parliamentarians’ salaries

ISLAMABAD: The opposition in the Senate staged a protest after the chair set a new precedent, withholding the results of the count after hesitantly allowing voting on a motion for the immediate consideration of the State Bank of Pakistan (Amendment) Bill.

The bill, moved by PTI Senator Mohsin Aziz, proposes to raise the minimum credit limit extended to the private sector by banks in each province.

Objecting to the bill, Minister of State for Finance and Revenue Ali Pervaiz Malik said Article 74 of the Constitution clearly states that the consent of the federal government is required for any bill seeking to amend the SBP Act and wondered how the bill came on the agenda without government consent.

Law Minister Azam Nazeer Tarar also endorsed the view. Sen­a­tor Mohsin Aziz, however, asser­ted that it was not a money bill.

The bill aims to address the concerns of private businesses from smaller provinces, which are at a disadvantage when compared to their counterparts in Punjab, for example.

The bill proposes that the minimum credit limit of commercial banks should not be less than 60pc of their........

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