Senate passes Securities Bill for protection of investors

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  • Minister says Special Security Division, comprising army men and civil security, being set up for security of personnel working on China-Pakistan Economic Corridor

 

Moved by Minister of State for Interior Muhammad Balighur Rehman, the Upper House of the Parliament Thursday passed The Securities Bill, 2015, which provides amending and consolidating law for the regulation of the securities industry and the protection of investors.

During the proceedings, the minister told Senate that a Special Security Division is being set up for the China-Pakistan Economic Corridor (CPEC). He said the division, comprising nine battalions of Pakistan Army and six battalions of civilian security forces, will be deputed for the security of foreigners and Pakistanis working on the construction of CPEC.

About the Turbat incident, the minister of state said an investigation committee has been constituted to probe the incident. Nine Levies personnel who showed negligence while on duty have been arrested and are being interrogated by the committee.

To a question, Rehman said 13 counters have been established in different countries for issuance of national identity cards to overseas Pakistanis and such counters will be established in eight more countries.

Moreover, addressing the House, Minister for Railways Khawaja Saad Rafique said 63 locomotives were imported from China during the last five years and 75 new locomotives will be manufactured to meet the growing demand in the country.

Earlier, four bills were introduced in the House.

Minister for National Food Security and Research Sikandar Hayat Bosan moved The Seed Amendment Bill, 2015, Minister for Law, Justice and Human Rights Pervaiz Rashid moved The Legal Practitioners and Bar Councils (Amendment) Bill, 2015 and Minister of State for Interior Muhammad Balighur Rehman moved The Credit Bureaus Bill, 2015 which provides for the incorporation and functioning of credit bureaus and related matters.

Moreover, Minister for Inter-Provincial Coordination Riaz Hussain Pirzada moved The Islamabad Capital Territory Local Government Bill, 2015, which provides for rationalising the local government system in the federal capital.

The chair referred the bills to the concerned committees of the House.