Pakistan Sovereign Wealth Fund draft finalised

ISLAMABAD: Finance Minister Mohammad Ishaq Dar Friday chaired a meeting on the establishment of Pakistan Sovereign Wealth Fund.

The meeting deliberated upon the technicalities involved, finalized the draft law and decided to send it to the Ministry of Law and Justice for legal opinion and further necessary action, said a press statement issued by the finance ministry, local media reports.

The establishment of the fund is authorized under the Public Finance Management Act- 2019, the statement added.

Special Assistant to the 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. The Fund would facilitate optimal leveraging and better management of government assets in the country in line with the international standards, policies and practices.