Stuck in limbo, SBP amendment bill continues to worry opposition – Pakistan

ISLAMABAD: Controversy over the stalled State Bank of Pakistan (SBP) amendment bill refuses to die out, with the opposition in the Senate continuing to raise its voice against what it considers a violation of rules and parliamentary norms.

Leader of the Opposition in the Senate Syed Shibli Faraz has expressed alarm over the fact that the bill was stuck in limbo even after majority of members present in the house voted for it.

In a letter written to Senate Chairman Yousaf Raza Gilani, a copy of which is available with Dawn, Senator Faraz recalled that SBP amendment bill moved by Senator Mohsin Aziz was put to vote on Feb 17. Voice voting was conducted followed by physical headcount and the bill was supported by majority of the members present in the house.

But unfortunately the voting results were not announced by the deputy chairman, thus violating Section 238(6) of the Rules of Procedure and Conduct of Business in the Senate 2012, the opposition leader said.

Shibli Faraz writes to Senate chairman for intervention

The members of opposition protested against this blatant violation of rules and democratic principles. “We demand announcement of the voting count,” the letter stated.

It pointed out the violation of the sanctity of parliament by disregarding its established rules was a serious affront to the democratic principles that underpin the legislative process. “When its rules are violated whether through disruption or disregard for parliamentary decorum, it undermines the institution’s credibility and rule of law. Such violations not only hinder the proper functioning of parliament, but also erode public trust in the legislative system, potentially fostering a sense of disorder & disrespect,” it added.

“The sanctity of parliament must be upheld to preserve its integrity ensuring that it remains a forum for debate, decision making and democratic governance.”

The opposition leader requested the Senate chairman for his personal intervention to ensure that the unfinished agenda be brought to its finality, in order to restore the integrity and credibility of this house. “Failing which the future proceedings of the house will lose its legitimacy, honour and also damage public confidence in parliament’s ability to act in the best interest of the people,” it stated. The opposition in the Senate had staged a protest on Feb 17 after Senate Deputy Chairman Syedal Khan withheld the results of the count after hesitantly allowing voting on a motion for the immediate consideration of the SBP amendment bill.

The bill moved by Senator Mohsin Aziz of PTI had already been cleared by the standing committee on finance. No objection had been raised by the government when the bill was introduced in the house and referred to the standing committee concerned, but just before the passage of the bill, law minister sought its deferment asserting that it was a money bill and could be brought in the House only after federal government consent.

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

Senator Aziz said the draft law would not affect the federal consolidated fund and did not involve a single penny from the government exchequer, adding that Khyber Pakhtu­nkhwa and Balochistan collectively received less than 2pc of the total loan portfolio of private banks — even lower than the amount of Zakat.

Senators belonging to BAP, including former caretaker premier Anwarul Haq Kakar, also voted in favour of the bill besides Senator Hidayatullah of ANP, two senators from PPP and one from PML-N.

Published in Dawn, March 4th, 2025