Islamabad: The Minister for Science and Technology Mr. Zahid Hamid chaired the meeting of the Committee constituted by the Economic Coordination Committee (ECC) of the Cabinet Tuesday in Economic Affairs Division.
In a previous meeting a sub-committee headed by Secretary Law had been constituted to draft a bill for regulation of foreign contribution to international and local NGOs.
The draft bill prepared by the sub-committee was presented during the meeting .Mr. Zahid Hamid reiterated that the objective of the bill is only transparency in utilization of foreign contributions.
He said that all the earlier comments of the stakeholders have been incorporated and further comments will also be considered.
The Draft Bill provides for Registration of International NGOs with Economic Affairs Division and local NGOs desiring to utilize foreign contributions with 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.
Stakeholders including Pakistan Centre for Philanthropy, Pakistan Humanitarian Forum and representatives of donor community were also present and were invited to comment on the draft.
The intent and general scheme of draft were appreciated and acknowledged by the participants. The final version of the Draft will be presented to the Parliament for consideration after approval of the Federal Cabinet.