Senate Committee Reviews Virtual Assets Bill

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Senate committee reviews Virtual Assets Bill and examines OGRA appointments and gas cylinder safety, summoning ministers and regulators for a joint hearing.

The Senate Standing Committee on the Cabinet Secretariat, chaired by Senator Rana Mahmood ul Hassan at Parliament House, conducted a detailed review of several national matters including the Virtual Assets Bill, attention notices and a Rule 218 motion.

Concerns over transfers and appointments at the Oil and Gas Regulatory Authority were raised by Senator Manzoor Ahmed Kakar, who cited recent postings in the Multan division and said the chairman of OGRA did not adequately respond to his request. The Cabinet Division explained that technical institutions follow established rules for transfers and that appointments are made in line with government policy and the law. Questions about post-retirement appointments and extensions were flagged, with the Cabinet Division noting the government’s legal authority to grant extensions. The committee chair decided to personally mediate between the parties to reach an understanding, underlining parliamentarians’ role as a bridge between the government and the public.

Discussion of the Virtual Assets Bill highlighted procedural concerns, with Senator Sadiya Abbasi noting that the relevant minister should have briefed the committee before detailed scrutiny. Senator Anusha Rehman said the Senate Finance Committee had already examined much of the bill, while Senator Saleem Mandviwalla said he had not completed his review. The committee resolved to hold a joint hearing with the Senate Finance Committee to examine the Virtual Assets Bill in depth and summoned the finance minister, minister for parliamentary affairs, State Bank governor, SECP chairman, FBR chairman, IT secretary, finance secretary and other regulators to the next session.

The committee also took up a notice challenging appointments of principal accounting officers from the private sector. Senator Zameer Hussain Ghumro argued these appointments contravene rules since the post traditionally belongs to the division’s secretary. The Establishment Division stated that the prime minister had authorised advertisements for seven divisions and interviews were held, but no suitable candidate emerged; some recommendations were forwarded to advisory level. The government reiterated its intent to introduce private sector expertise where appropriate, while members stressed adherence to merit and legal procedures. The matter was deferred for further review at the next meeting.

Rising incidents of gas cylinder explosions prompted urgent debate after Senator Waqar Mehdi reported a worrying spike in accidents, with over 500 incidents in Punjab and a tragic Hyderabad blast that killed more than 50 people. OGRA acknowledged the seriousness, citing increased LPG demand amid natural gas shortages and saying 17 companies hold cylinder licences. OGRA reported compensation paid to victims in a recent Multan incident and proposed tougher penalties, suggesting fines up to 1.5 crore rupees and sentences up to 14 years, a change that may require amendment to the Pakistan Penal Code according to law ministry officials. Senator Anusha Rehman recommended amending the OGRA Act and its rules to strengthen complaint redressal and enforcement, while a proposal to form district-level monitoring committees was put forward. The committee directed OGRA to submit proposed rule amendments within 15 days.

The session was attended by Senators Saleem Mandviwalla, Anusha Rehman, Ahmed Khan, Sadiya Abbasi, Ameer Waliuddin Chishti, Muhammad Abdul Qadir, Dilawar Khan, Zameer Hussain Ghumro, Jan Muhammad and Manzoor Ahmed Kakar, along with the secretaries of the Establishment and Cabinet divisions, the OGRA chairman and other senior officials.

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