Senate chaos erupted as opposition members protested the withholding of results after the SBP Amendment Bill passage. The bill, presented by PTI Senator Mohsin Aziz, would raise private banks’ minimum credit quota to 60% of their local deposits to address unfair lending, especially in smaller provinces like Khyber Pakhtunkhwa and Balochistan.
Government ministers opposed the bill, citing Article 74, which requires federal consent for SBP law revisions. Law Minister Azam Nazeer Tarar suggested delaying the law pending cabinet approval. PTI members denied the bill was a “money bill” and pushed for its passage.
Deputy Chairman Syedal Khan Nasar deferred the bill but overturned it after opposition senators hurled ripped agendas and screamed slogans. The amendment motion was supported by allied parties PPP, PML-N, and BAP, shocking the government and fuelling the dispute.
Separately, the Senate raised parliamentarians’ monthly salary to almost Rs500,000. The National Assembly made a similar decision.
The SBP bill’s fate was left uncertain when the session ended prematurely without voting results.
