Islamabad (09 February 2026) — The Senate Standing Committee on the Cabinet Secretariat, chaired by Senator Rana Mahmoodul Hassan, convened at Parliament House to begin a detailed review of the Virtual Assets Bill, 2025 and to examine a range of governance and safety concerns raised by members.
Committee members examined the Virtual Assets Bill introduced in the Senate on 15 August 2025 by the Minister for Parliamentary Affairs, Dr Tariq Fazal Chaudhry. Several senators stressed that the relevant minister should have briefed the committee before debate, while others noted that the Senate Standing Committee on Finance had already reviewed much of the draft and that a few clauses remained under consideration. The committee decided to hold a joint hearing with the Finance Committee to undertake a clause-by-clause review of the Virtual Assets Bill and summoned the finance minister, minister for parliamentary affairs, the Governor of the State Bank, the chairmen of SECP and FBR, and secretaries of IT and Finance for the next sitting.
Concerns over transfers and appointments at the Oil and Gas Regulatory Authority (OGRA) were raised by Senator Manzoor Ahmad Kakar, who described recent postings in the Multan division as politically influenced and said his requests had not received a satisfactory response. The Secretary of the Cabinet Division responded that technical agencies follow government policy and that transfers are processed under law; the Establishment Division noted the government’s authority to grant extensions under existing rules. The committee chair opted for direct engagement and will meet with both the OGRA chairman and Senator Kakar to clarify the matter.
Debate also focused on the proposed recruitment of principal accounting officers from the private sector. Senator Zamir Hussain Ghumro argued such appointments would contradict rules that assign the post to the relevant divisional secretary, while the Establishment Division explained that advertisements were issued for seven divisions on prime ministerial instruction and interviews were held, though no suitable candidate was found in some cases. The committee heard that summaries for certain candidates have been forwarded to the advisory level and noted the government’s intent to bring private-sector expertise into public institutions. The issue was deferred for further review at the next meeting.
The committee engaged in an intensive discussion on a worrying rise in gas cylinder explosions across the country. Senator Syed Waqar Mehdi highlighted more than 500 reported incidents in Punjab and recalled a catastrophic Hyderabad blast that killed over 50 people. Members criticised OGRA’s existing oversight and described current penalties—only a small fine and short jail term—as insufficient. OGRA proposed strengthening punishments with fines up to Rs 15 million and imprisonment up to 14 years, a move the Ministry of Law said would require amendment of the Pakistan Penal Code. Some senators recommended targeted amendments to the OGRA Act and comprehensive revisions to rules, complaint resolution mechanisms and enforcement procedures; district-level monitoring committees were also proposed. The chair instructed officials to present proposed rule amendments within 15 days.
The session included participation from Senators Saleem Mandviwala, Anusha Rehman, Ahmed Khan, Saadia Abbasi, Amir Waliuddin Chishti, Muhammad Abdul Qadir, Dilawar Khan, Zamir Hussain Ghumro, Jan Mohammad and Manzoor Ahmad Kakar, alongside the secretaries of the Establishment and Cabinet divisions, the chairman of OGRA and other senior officials. The committee set an active timetable for follow-up hearings on the Virtual Assets Bill, OGRA governance concerns and safety measures for gas cylinders.
