Senate rejects most clauses in finance bill.

• Position: Pakistan Senate - Report

In a moral defeat for the government, a Senate panel on Thursday rejected all clauses of the Finance Bill 2019 that affect the common man and also recommended that the exchange rate should be fixed at Rs151 to a dollar and the interest rate be brought down to single digit.

The Senate Standing Committee on Finance rejected most of the clauses of the Finance Bill 2019 with a majority vote amid boycott by treasury members. The Senate, which has a tradition of adopting the report of the standing committee, is also expected to reject the Finance Bill.

It would be a rare case if the Senate committee and the upper house of parliament rejected the entire Finance Bill. But the Senate's recommendations are not binding on the National Assembly in case of the Finance Bill.

However, the treasury...