Foreign Contribution Bill 2014 draft prepared

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The final draft of the Foreign Contribution Bill 2014 has been prepared and would be presented in the parliament for final consideration in some days.

Federal Minister for Science and Technology Zahid Hamid told a meeting that that suggestions by stakeholders have been incorporated in the draft bill to ensure its efficacy as a monitor of untilisation of foreign contributions.

The draft bill provides for registration of international NGOs with the Economic Affairs Division and local NGOs desiring to utilise foreign contributions with the Securities & Exchange Commission of Pakistan. The draft bill is intended to facilitate and streamline full disclosure of foreign funds being utilized in the social, humanitarian and relief sectors.

The final version of the draft will be presented to parliament for consideration and after its approval this draft would be presented in the federal cabinet for its final approval.