Pakistan passes law to set up a sovereign wealth fund

[kingQamaR]

And who is the gullible that believes that govt will handle the money wisely… lol

 

[ziaulislam]

ISLAMABAD: Pakistan’s upper house of the parliament on Wednesday passed a law to allow the creation of a sovereign wealth fund which will have the country’s solvent assets parked in it.

Finance Minister Ishaq Dar passed the bill that was already passed in the lower house of the parliament. The upper house’s speaker, Sadiq Sanjrani, announced the bill becoming law in a live telecast.

The South Asian nation is asset solvent, Dar told the house, saying that’s why he had discarded any talk in recent months of the country defaulting on its sovereign debt.

Dar said the wealth fund will initially have seven assets worth 2.3 trillion Pakistani rupee ($8.06 billion) parked in it.

A day earlier, Dar had said the government would establish sub-funds under the Pakistan Sovereign Wealth Fund (PSWF).

The development came after the National Assembly on Monday approved legislation to establish PSWF which aims to ensure sustainable economic development through the efficient management of funds and assets, adhering to the highest international standards, according to state-run APP.

Pakistan passes law to set up a sovereign wealth fund

ISLAMABAD: Pakistan’s upper house of the parliament on Wednesday passed a law to allow the creation of a sovereign...

www.brecorder.com

 

[Jango]

My mind was analyzing that bold part, and I firmly believe that's what this is;

That's exactly what this is.

This is in no way similar to the soverign wealth funds of Saudi Arab or UAE or what have you.

 

[ARMalik]

Corrupt arse-holes.

 

[PakAlp]

At least it's not a Ponzi scheme like the so called "dam fund" or "investment in real estate by overseas Pakistanis" to oblige corrupt tycoons. As long as State Bank of Pakistan and all stake holders agree to be part of this initiative it will have success.

Just remembered the dam fund, where is the money? Where is the dam?

 

[ziaulislam]

Just remembered the dam fund, where is the money? Where is the dam?

The money is the bank and dam is 30% completed

I am sorry you just woke from coma. Bad motor vehicle accident or waxing waning dementia

 

[PakAlp]

The money is the bank and dam is 30% completed

I am sorry you just woke from coma. Bad motor vehicle accident or waxing waning dementia

Any proof and when will that money be spent on the dam.

NA passes resolution to utilize dam fund for flood affectees

ISLAMABAD: The National Assembly on Friday unanimously passed a resolution to utilize the amount deposited in the Supreme Court of Pakistan Diamer-Bhasha

arynews.tv

 

[PakFactor]

That's exactly what this is.

This is in no way similar to the soverign wealth funds of Saudi Arab or UAE or what have you.

Exactly, SA and UAE never put national assets in the fund; the most the Saudis did was do an IPO for their oil giant Aramco. Then put the fund's generation into the Wealth Fund. What Pakistan is doing is blatant fraud with the nation.

 

[epebble]

Dar must be in crack cocaine, what liquid assets is he planning to put in the fund. Most countries which set this up are rich in gas and oil.

Don't be concerned. He is not going to cause any real harm. Basically, he will buy a ledger book from a stationery shop and write all 'assets' with valuations on a page. Then he will total the valuations and call it "Sovereign Wealth Fund". He clearly said, 'Assets will be Parked". That means nothing will happen. I can say my Rolls Royce is "Parked" in the dealership. As long as I don't go near that and try to drive it around, even the salesman will laugh at my joke.

 

[Bouncer]

Easier to loot from a central point. Instead of inviting bids for individual companies, you just put up the entire "basket" for sale.

 

[ziaulislam]

Exactly, SA and UAE never put national assets in the fund; the most the Saudis did was do an IPO for their oil giant Aramco. Then put the fund's generation into the Wealth Fund. What Pakistan is doing is blatant fraud with the nation.

The nation agrees to this by saying khata hey tu lagata be hey

 

[N.Siddiqui]

Is this some kind of sarcasm, who will invest and bet on a banana republic, ruled by slaves and stooges, a sovereign fund for a not so sovereign country is a joke.

Going bananas...the duffer handlers and the corrupt rulers.

 

[Samlee]

How Is This Any Different From Sarmaya e Pakistan STarted By Asad Umar???

 

[PakFactor]

The nation agrees to this by saying khata hey tu lagata be hey

Sadly, it does agree we have docile people making up this nation. We've been reduced to the sea foam that's pushed by ocean water.

 

[PakFactor]

The money is the bank and dam is 30% completed

I am sorry you just woke from coma. Bad motor vehicle accident or waxing waning dementia

People got happy and started donating, never stopping to ask, what in the bloody hell does a judge have to do fundraising for a dam? It's not within his scope of work. But it's not surprising we have a military that is all encompassing.