Members of the Senate Standing Committee on Finance and Revenue raised sharp concerns after being told that benefits and privileges granted to heads of state owned enterprises and related institutions reportedly exceed Rs 2 billion. The committee, chaired by Senator Saleem Mandviwalla, criticised delays in providing comprehensive details and warned that failure to submit satisfactory replies could prompt a privilege motion.
The committee addressed a starred question seeking names, domiciles, modes of appointment, tenures, salaries, emoluments and other benefits of heads of SOEs, regulatory bodies and subordinate offices under the administrative control of the Ministry of Finance and Revenue. Members queried why the requested information was incomplete and late, stressing that transparency is essential when public funds and appointments are involved.
Lawmakers singled out the reported scale of SOE benefits as particularly troubling, saying such figures raise questions over accountability, justification and fiscal oversight. Members emphasised the need for clear explanations on the structure and rationale of these benefits so that the public can understand how funds are being deployed in state owned entities.
Chairman Mandviwalla directed the Ministry of Finance to furnish complete and satisfactory replies, cautioning that the concerned senator may move a privilege motion if information is not properly provided. The committee also examined the Pakistan Sovereign Wealth Fund Amendment Bill, which officials described as aimed at improving governance, operational efficiency and SOE management.
However, members expressed reservations that the proposed amendments should not harm state owned enterprises or exacerbate delays in development funding. The chairman questioned the timing and wider implications of the bill during the ongoing budgetary process, deferred further consideration and instructed the Ministry to submit a clause wise rationale for each amendment before the next meeting. Officials said the amendments would include mandatory briefings to parliamentary standing committees on SOE performance, a step members viewed as important but contingent on the Ministry first justifying each change and detailing its likely impact on public sector entities.
