The National Assembly here on Friday passed the Fiscal Responsibility and Debt Limitation (FRLD) (Amendment) Bill, 2022 with majority vote after its clause by clause reading.
The bill was moved by Minister of State for Finance Aisha Ghaus Pasha. The bill is aimed at strengthening the debt office with the mandate and resources for effective planning and execution of debt management functions of the government.
According to the Statement of Objects and Reasons:- Fiscal Responsibility and Debt Limitation (FRDL) Act provides for reduction of federal fiscal deficit and ratio of public debt to gross domestic product to a prudent level by effective public debt management.
The Debt Policy Coordination Office was also established under this Act. NNI