Prime Minister Shehbaz Sharif has instructed the Cabinet Division to consult Minister of State for Finance Ali Pervaiz Malik on cabinet-related economic matters and formed a committee to review a proposal allowing dual nationals to become governor and deputy governor of the central bank.
The federal cabinet on Monday deferred approval of the State Bank of Pakistan (SBP) Amendment Bill after Malik raised an objection that he had not been consulted by the finance ministry on the matter.
The finance ministry had moved the summary for cabinet approval to amend the SBP Act. According to the Rules of Business of 1973, the federal minister approves and authorizes the submission of summaries to the cabinet.
However, Malik’s viewpoint in the meeting was that he should have been consulted before taking up such matters at the cabinet level, or else it would not be possible for him to back summaries, sources said.
According to the sources, this was not an isolated incident where the minister of state had been ignored in important matters. They said the Attorney General for Pakistan (AGP) also told the cabinet that his office had endorsed a cabinet summary of which he was not aware.
The prime minister then instructed the Cabinet Division to ensure that the minister of state was consulted on all matters. Malik is the prime minister’s choice for the position of minister of state for finance and revenue. He is known to be unorthodox and often takes positions on important policy matters.
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The federal cabinet did not approve the finance ministry’s summary and instead decided to constitute a committee to review the bill. The finance ministry had proposed around a dozen amendments to the SBP Act, which the law ministry had also vetted.
