senate seeks 16year

Senate seeks 16-year oil and gas profit record

ByJustpaste.in

Islamabad: A Senate committee has raised serious questions over the distribution of billions of rupees generated from Pakistan’s oil and gas resources, demanding a complete financial breakdown of profits earned by oil and gas companies over the last 16 years.

The Sub Committee of the Senate Functional Committee on Devolution directed authorities to provide a clear record of revenues and prepare a plan to ensure provinces receive their constitutional share from natural resources.

The committee reviewed the implementation of Article 38(g) of the Constitution and examined whether provinces were receiving proper representation in federal institutions and a fair share from national resources.

During the discussion on oil and gas revenues, the committee sought details of profits earned by oil and gas companies during the past 16 years. Officials were directed to verify and finalize the figures and prepare a proposal for the distribution of funds.

Officials from the Petroleum Division informed the committee about the existing 50:50 revenue sharing system between the federal government and provinces. They explained that revenues generated from natural resources contribute to the national treasury through non tax income.

However, the committee stressed that natural resources belong to the people and called for stronger transparency mechanisms to ensure that provinces receive their rightful share without unnecessary delays.

Chairman Senator Zamir Hussain Ghumro directed authorities to introduce necessary legal and administrative improvements to strengthen the system of revenue distribution and prevent unequal treatment of provinces.

The committee also focused on provincial employment representation in federal ministries and government linked corporate boards.

The chairman expressed concern that constitutional provincial quotas were not being implemented effectively in some areas. He directed the Establishment Division to remove gaps in recruitment procedures and ensure that people from less developed and rural areas receive their due opportunities.

The committee ordered officials to identify provinces facing representation shortages and take immediate steps to correct the imbalance.

Officials were directed to submit a detailed compliance report in the next meeting, showing progress on both employment representation and natural resource revenue distribution.

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