$3,686m bilateral debt rescheduled after Covid-19, Senate body told.

ISLAMABAD -- Senate Standing Committee on Economic Affairs was informed that following Covid-19 the government of Pakistan was able to reschedule $3,686 million of bilateral debt under debt service suspension initiative offered by G20 countries.

A meeting of the Senate Standing Committee on Economic Affairs was held on Friday at Parliament House, Islamabad. Chaired by Senator Faisal Saleem Rehman, the meeting was attended by Senator Muhammad Akram, Senator Manzoor Ahmed, Senator Atta Ur Rehman and senior officers of the Ministry of Economic Affairs along with all concerned.

The Committee was briefed regarding the role, performance, mandate and functions of the Ministry of Economic Affairs. It also reviewed budgets, external debt and liabilities and details of multilateral and bilateral development partners. Steps taken by the Ministry to provide legislative cover to NGOs receiving foreign funding in the light of the Sindh High Court judgment was discussed as well.

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The Committee was informed that the Ministry's mandate revolved around external public debt management and establishment and administration of Joint Economic Commissions to create platforms to promote bilateral economic cooperation in areas such as trade, investment, agriculture, industry, education, health, transport and communication and financial assistance. While being briefed on Pakistan technical assistance program, the committee was informed that foreign students attend programs offered by HEC recognised universities. During the discussion, the committee enquired whether foreign students attending madaris in Pakistan are also part of this program wherein the committee was informed that they weren't part of it. Following...