Senate approves debt management, Export-Import Bank amendment bills

The Senate on Thursday approved seven government bills, including the Fiscal Responsibility and Debt Limitation (Amendment) Bill, 2026, aimed at strengthening the Debt Management Office (DMO) to improve public debt management and fiscal planning.

As per media reports, the bills had already been passed by the National Assembly of Pakistan and now await assent from Asif Ali Zardari to become law.

The approved legislation includes the Fiscal Responsibility and Debt Limitation (Amendment) Bill, 2026, the Export-Import Bank of Pakistan (Amendment) Bill, 2026, the Financial Institutions (Recovery of Finances) (Amendment) Bill, 2026, the Islamabad Capital Territory Condominium (Ownership and Management) Bill, 2026, the Pakistan Infrastructure Development and Assets Management Authority Bill, 2026, the Environmentally Sound Management of Inventory of Hazardous Material on Ships Bill, 2026, and the Pakistan Airports Authority (Amendment) Bill, 2026.

Minister of State for Finance Bilal Azhar Kayani, Federal Law Minister Azam Nazeer Tarar and Parliamentary Affairs Minister Tariq Fazal Chaudhry presented the bills in the House.

According to the statement of objects and reasons attached to the Fiscal Responsibility and Debt Limitation (Amendment) Bill, 2026, the existing Fiscal Responsibility and Debt Limitation Act, 2005 seeks to reduce the federal fiscal deficit and public debt-to-GDP ratio through effective debt management.

The statement noted that the Debt Management Office, established under the Act, has historically functioned with limited institutional capacity despite providing critical support to stakeholders.

The amendment seeks to expand the scope of the DMO, strengthen its institutional framework and provide resources required for effective planning and execution of the government’s debt management functions.