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The Sitting of the National Assembly has been adjourned to meet again on Wednesday, the 17th June, 2026 at 11:00 a.m. | Committee Meetings: 12:00 PM: A Joint meeting of the Chairperson, Special Committee on Gender Mainstreaming, and the Secretary, Women's Parliamentary Caucus, with the Ambassador of the Kingdom of Thailand. at Women's Parliamentary Caucus (WPC), (1st Floor) Parliament House, Islamabad. | 12:30 PM: Meeting of the Pakistan-Ethiopia Parliamentary Friendship Group (PFG) at Committee Room No.7 (4th Floor), Parliament House, Islamabad | 02:00 PM: 28th meeting of the SC on Interior and Narcotics Control (Postponed) at Constitution Room (2nd Floor), Parliament House , Islamabad | 02:30 PM: 29th meeting of the Standing Committee on Finance and Revenue (Revised Notice) at Committee Room No.2, First Floor, Parliament House, Islamabad
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Standing Committee on Finance and Revenue meets

Thursday, 14th May, 2026
Islamabad, 14 May 2026: The Standing Committee on Finance and Revenue, in its meeting held today at Parliament House, Islamabad, under the Chairmanship of Hon. Syed Naveed Qamar, continued its consideration of “The Financial Institutions (Recovery of Finance) Amendment Act, 2026” and deliberated in detail upon a series of proposed amendments aimed at safeguarding mortgagors against arbitrary, coercive, or unfair exercise of powers, particularly in relation to foreclosure and recovery proceedings under Sections 15A(2), (6), (7), (10), (12), (14), 15(b), 15(d), and 15(17).
After detailed deliberations, the Committee recommended that the Bill, as reported by the Standing Committee, may be passed by the National Assembly.
During clause-by-clause consideration of the newly inserted Section 15A, the Committee examined the proposed mechanism relating to issuance of first, second, and final notices, each carrying a minimum notice period of thirty days prior to initiation of further recovery proceedings. 
The Committee also deliberated upon provisions concerning restructuring, rescheduling, and settlement of mortgage liabilities, and expressed concern that borrowers should not remain subject to indefinite delays by financial institutions in deciding such requests. 
 
 
The Hon. Chairman emphasized the importance of maintaining a fair and equitable balance between the rights of financial institutions and those of borrowers.
The Committee extensively debated the proposed foreclosure mechanism under housing finance arrangements and expressed serious concern that, in the absence of adequate legal safeguards, the proposed framework could operate harshly against borrowers and ordinary citizens. 
The Committee also approved the minutes of its previous meeting held on 13th May, 2026.
The meeting was attended by Mr. Bilal Farooq Tarar, Dr. Nafisa Shah, Dr. Sharmila Faruqui, Dr. Mirza Ikhtiar Baig, and Mr. Muhammad Jawed Hanif Khan, MNAs. The meeting was also attended by the Hon. State Minister for Finance and Revenue, Secretary, Ministry of Law and Justice, and senior officers from the Finance Division, Law Division, and the State Bank of Pakistan.