The National Assembly is likely to meet on Monday (Jan 10) to start debate on “Finance (Supplementary) Bill, 2021” for approval, it is learnt. According to the sources, the National Assembly session may continue debate on the Finance (Supplementary) Bill, 2021 for seven to 10 days before approval.

They said that the National Assembly would have to wait for the recommendations of the Senate on the bill to consider it before its approval. Finance Minister Shaukat Tarin on Tuesday laid the Finance (Supplementary) Bill, 2021 in the Senate for discussion and preparing recommendations on it.

Now, the Senate Standing Committee on Finance would discuss the Finance (Supplementary) Bill, 2021 and prepare recommendations on it. The Senate, under Article-73 of the Constitution, would prepare recommendations on the bill and submit them in the National Assembly within 14 days.

According to Article-73 of the Constitution of Pakistan, “(1) Notwithstanding anything contained in Article 70, a money bill shall originate in the National Assembly: Provided that simultaneously when a money bill, including the Finance Bill containing the Annual Budget Statement, is presented in the National Assembly, a copy thereof shall be transmitted to the Senate which may, within 14 days, make recommendations thereon to the National Assembly.”

“(1A)The National Assembly shall consider the recommendations of the Senate and after the Bill has been passed by the Assembly with or without incorporating the recommendations of the Senate, it shall be presented to the President for assent,” it says.

This story was first published in Business Recorder on Jan 5, 2022.