Senate Approves Seven Key Government Bills

The Senate of Pakistan on Thursday approved seven government bills, including the Fiscal Responsibility and Debt Limitation (Amendment) Bill, 2026, aimed at strengthening the operational framework and institutional capacity of the Debt Management Office to improve public debt oversight and fiscal management.

According to media reports, all seven bills had previously been passed by the National Assembly of Pakistan and now await formal assent from Asif Ali Zardari before becoming law.

The approved legislative package includes the Fiscal Responsibility and Debt Limitation (Amendment) Bill, 2026, the Export-Import Bank of Pakistan (Amendment) Bill, 2026, the Financial Institutions (Recovery of Finances) (Amendment) Bill, 2026, the Islamabad Capital Territory Condominium (Ownership and Management) Bill, 2026, the Pakistan Infrastructure Development and Assets Management Authority Bill, 2026, the Environmentally Sound Management of Inventory of Hazardous Material on Ships Bill, 2026, and the Pakistan Airports Authority (Amendment) Bill, 2026.

The bills were presented before the House by Bilal Azhar Kayani, Azam Nazeer Tarar, and Tariq Fazal Chaudhry.

According to the statement of objects and reasons accompanying the Fiscal Responsibility and Debt Limitation (Amendment) Bill, 2026, the existing Fiscal Responsibility and Debt Limitation Act, 2005 was enacted to reduce the federal fiscal deficit and maintain sustainable public debt-to-GDP levels through effective debt management mechanisms.

The statement further noted that although the Debt Management Office was established under the 2005 law to provide strategic support in public debt operations, the institution has historically operated with limited administrative and institutional capacity.

The proposed amendment therefore seeks to broaden the mandate of the Debt Management Office, strengthen its institutional structure, and provide the operational resources necessary for improved planning, coordination, and execution of the government’s debt management responsibilities.