In a recent joint press conference outside his home in Islamabad, Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari called on Maulana Fazlur Rehman, the chief of Jamiat Ulema-e-Islam (JUI-F), to present the “mutually agreed” bill for the 26th constitutional amendment in Parliament this Sunday.
Bilawal expressed gratitude to Fazl for his relentless efforts in building consensus around the draft, expressing hope that both parties would collaborate effectively in the upcoming parliamentary assembly.
Fazl remarked that there are no significant controversial issues remaining in the amendment draft. However, he suggested postponing the proceedings until Sunday to allow the Pakistan Tehreek-e-Insaf (PTI) delegation to secure final approval from Imran Khan, the party’s founding chairman.
On Saturday, sessions of both the Senate and National Assembly were adjourned and rescheduled, raising expectations that the much-anticipated 26th constitutional amendment will be introduced in Parliament soon.
The Senate session, which faced several delays, finally convened at 11 PM but was adjourned for a brief interval before midnight. Led by Senate Deputy Chairman Syedaal Khan Nasar, the session included the introduction of the Banking Companies Amendment Bill by Finance Minister Senator Muhammad Aurangzeb.
The finance minister pointed out the economic collapse many companies faced during the 2008 global crisis and outlined reforms meant to shield financial institutions from similar challenges. He also noted enhancements to the legal framework supporting Islamic banking and improvements in the State Bank of Pakistan’s regulatory role.
Additionally, Aurangzeb emphasized new measures to facilitate complaints to the banking ombudsman, reinforcing the aim to bolster the banking sector’s stability and reliability in Pakistan. At least 49 senators participated in the session, with many having attended continuously over the past several days.
