ISLAMABAD: The government introduced the Pakistan Electronic Media Regulatory Authority (Amendment) Bill, 2025 and ‘The Netting of Financial Arrangements Bill, 2025’ in the National Assembly on Friday.
Minister for Parliamentary Affairs Dr Tariq Fazal Chaudhry introduced the bills in the House.
The Netting of Financial Arrangements Bill, 2025 is meant to prevent and reduce risks in the financial system and remove any uncertainty in enforcing the netting rights and in case of a termination event, bankruptcy, or insolvency proceedings, limits the powers of the liquidators to prevent any cherry picking of qualified financial arrangements, which fall under the ambit of netting provisions, and allows financial collateral arrangement under such netting rights.
The Pakistan Electronic Media Regulatory (Amendment) Bill, 2025 is meant to substituted the word ‘Federal Government’ with ‘Prime Minister in Section 2, 7 and 26 of Pemra Ordinance.
The statement of objects and reasons of the bill says that the bill is being introduced in light of decisions of the Supreme Court and the Federal Cabinet to substitute word ‘Federal Government’ with an appropriate authority.
