ISLAMABAD: Ministry of Finance on Friday finalised a draft law to set up a national sovereign wealth fund for the better management of government’s assets.

The decision was taken in a meeting chaired by Finance Minister Ishaq Dar to establish the Pakistan Sovereign Wealth Fund (PSWF).

The meeting reviewed the draft bill for the establishment of PSWF for optimal leveraging and better management of government’s assets in the country in line with international standards, policies and practices. The establishment of the fund is authorised under the Public Finance Management Act-2019.

The meeting deliberated upon the technicalities and finalised the draft law. It also decided to send the law to the Ministry of Law and Justice for a legal opinion and further action.

Published in Dawn, July 15th, 2023