Senate Body On Finance And Revenue Panel Reached Malaysia On A 3-day Parliamentary Visit


Senate body on Finance and Revenue panel reached Malaysia on a 3-day Parliamentary visit

ISLAMABAD, (UrduPoint / Pakistan Point News -5th Sep,2016) : Senate Standing Committee on Finance and Revenue delegation led by the its Chairman Senator Saleem Mandviwalla on Monday reached Malaysia.

According to a statement issued here on Monday the delegation were included the members Senator Ayesha Razza Farooq, Senator Mohsin Aziz, Senator Fateh Muhammad Hasni, Senator Mohsin Laghari , Senator Saud Majeed and Ilyas Bilor.

In his statement, Senator Saleem Mandviwalla said that "This is for the first time in the history of senate that a Finance Committee is visiting to any other country to discuss and strengthens the mutual understanding between the two countries".

Finance Committee delegation visited the Finance Ministry and World Bank Office in Putrajiya- Malaysia. Delegation met with the Chairman Standing Committee on Finance and the officials of the World Bank.

The Senators discussed monetary and fiscal policies in these meetings. During the meeting with the Finance Ministry of Malaysia, Pakistani side discussed Budget Planning and how to improve this process.

Finance Committee delegation discussed the taxation and the sustainable Public Financing. Senator Saleem Mandviwalla said that Budget Planning is very important and therole of Parliament should be enhanced as in Malaysia.

Supplementary budget spending approval process to be introduced in the Parliament of Pakistan as is done in Malaysia. Especially Finance Committees of National Assembly and Senate should be involved in Budget Preparation as is being done in Malaysia.

Senate Standing Committee recommendations should also be adopted like in Malaysia. Finance Committee Delegation also visited the World Bank office in Malaysia to discuss Public- Private-Partnership mode of development, role of state owned enterprises and their performance.

Delegation of the Senate Standing Committee on Finance will also visit the Parliament of Malaysia to discuss the matters of mutual cooperation.