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Wednesday, March 3, 2010

Proposal to hand over control of debts repayment to CCI

  Proposal to hand over control of debts repayment to CCI ISLAMABAD: The Parliamentary Committee on Constitutional Reforms (PCCR) has agreed on handing over the control of retiring national debts to the Council of Common Interests (CCI).

Senator Mian Raza Rabbani chaired the PCCR meeting here at Parliament House in which detailed deliberations were held on Article-166 and 167 of the Constitution.

The above Articles deal with the administration of national debts, their utilization and repayment between the federation and provinces.

Sources said that the meeting agreed on finalizing the matters relating to the administration and repayment of foreign debt through the Council of Common Interests (CCI) with the aim of progress and development of the provinces.

The PCCR members told the meeting that the provinces are not consulted in connection with the obtainment and retiring of foreign debts which are taken in the name of provinces

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