SOE Heads’ Benefits Reportedly Cross Rs2 Billion as Finance Panel Questions Delayed Disclosure
Nadeem Tanoli
Islamabad: Heads of state owned enterprises, regulatory bodies, attached departments and subordinate offices under the Ministry of Finance and Revenue have come under parliamentary scrutiny after members raised concerns that their benefits and privileges reportedly exceed Rs 2 billion. The Senate Standing Committee on Finance and Revenue, chaired by Senator Saleem Mandviwalla, expressed concern over delays in providing complete details and warned that failure to submit satisfactory replies could lead to a privilege motion.
The committee took up a starred question seeking the names, domiciles, modes of appointment, tenure, salaries, emoluments and benefits of heads of SOEs, regulatory bodies and other institutions working under the administrative control of the Ministry of Finance and Revenue. Members questioned why the requested information had not been provided completely and in a timely manner.
The most serious concern raised during the meeting was the reported scale of benefits and privileges extended to heads of these institutions. Members highlighted that these benefits reportedly amount to more than Rs 2 billion, raising questions over transparency, accountability and the justification of such privileges in public sector entities.
Chairman Saleem Mandviwalla directed the Ministry of Finance to ensure complete and satisfactory replies. He warned that if the information is not furnished properly, the concerned member may move a privilege motion.
The discussion comes amid wider concerns over the performance, cost and governance of state owned enterprises. Lawmakers questioned whether institutions funded or controlled by the public sector are managed with proper oversight, especially when senior level benefits reportedly run into billions of rupees.
The committee also reviewed the Pakistan Sovereign Wealth Fund Amendment Bill, which officials said is aimed at improving governance, operational efficiency and management of SOEs. However, members expressed concern that the proposed amendments should not negatively affect state owned enterprises or worsen delays in development funding.
Chairman Mandviwalla questioned the timing and broader implications of the proposed amendments during the ongoing budgetary process. He deferred further consideration of the bill and directed the Ministry to submit a clause wise rationale for each proposed amendment before the next meeting.
Officials informed the committee that the proposed amendments would require mandatory briefings to parliamentary standing committees regarding SOE performance. Members viewed such briefings as important for improving transparency, but insisted that the Ministry must first justify each amendment and explain its impact on public sector entities.
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