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ISLAMABAD: Federal Minister for Finance and Revenue Senator Ishaq Dar chaired a meeting on Friday regarding the establishment of Pakistan Sovereign Wealth Fund.
The meeting deliberated upon technicalities involved, finalized the draft law and decided to send it to Ministry of Law and Justice for legal opinion and further necessary action, said a statement issued by the finance ministry.
The establishment of the fund is authorized under the Public Finance Management Act- 2019, the statement added.
As announced by the finance minister in his budget 2023-24 speech in the Parliament, the meeting reviewed the draft bill for the establishment of Pakistan Sovereign Wealth Fund.
It would facilitate optimal leveraging and better management of government assets in the country in line with international standards, policies and practices.
Special Assistant to Prime Minister on Finance, Tariq Bajwa, Chairman Securities and Exchange Commission of Pakistan (SECP), Akif Saeed and senior officers from Finance Division and SECP attended the meeting.
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