ISLAMABAD - The demand for Finance Minister Ishaq Dar’s resignation once again echoed in the Parliament House as some members of the Senate Standing Committee on Finance asked the government to appoint a new finance minister.

The committee members demanded from Prime Minister Shahid Khaqan Abbasi to appoint a new finance minister by removing Dar. Senator Nasreen Jalil of MQM said that the government should appoint a new finance minister as the office of the finance minister was “dysfunctional” due to Dar’s engagements in the accountability court.

She further said that even Army Chief Gen Qamar Javaid Bajwa has expressed concerns over the economic situation of the country. Committee Chairman Senator Saleem Mandviwalla also demanded that Dar stepped down from his post. 

Senators of treasury benches defended Dar. “The office of finance minister is functional and we should not intervene in government’s affairs,” said Senator Saud Majeed of PML-N. He said that Dar had improved the economic situation of the country during last four years.

Another committee member, Senator Osman Saifullah of PPP, said that Dar should come to the committee meeting to clear his position instead of resigning. Later, the committee decided to put on its agenda that the Dar should appear in the meeting and brief about the economic situation of the country.

The committee was told by officials from finance division that the programme of loans/budgetary support has not been suspended by the World Bank for Pakistan as reported in the press. The committee chairman observed that it has been attributed to a statement of the World Bank that programme has been suspended owing to deteriorating macroeconomic indicators. The committee directed that if it was not true the finance division should present substantial evidence from the World Bank.

It was told by the petroleum division that update on the summary sent to the federal cabinet regarding the settlement of GIDC with the CNG sector as recommended by the committee will be given in the same month.

Regarding the issue of payments made to clear the circular debt of power sector amounting to Rs480 billion during the year 2013, the committee expressed serious apprehensions on a reply submitted to the committee as it was contrary to the commitment made by the power division at the previous meeting. The report stated that the directives of the committee could not be implemented because it was in contrary to the principles of good governance and transparency without stating any particular reasons for not implementing the recommendations clause by clause.

The committee asked the officials to be present to clearly state whether or not they agree to implement the directions. If the latter is the case, the ministry should give good reasons for not being able to do so. The committee decided to take a briefing on the matter from the minister and secretary at the next meeting so that it could be decided that the matter has to be sent to the FIA or the NAB or some other entity.

The meeting was attended among others by senators Saud Majeed, Osman Saifullah, Ayesha Raza Farooq and officials from FBR, AGPR, finance division, petroleum division and power division.