LAHORE, June 6: Punjab Finance Minister Rana Asif Mehmood is hit by the Supreme Court decision on dual nationality, declared a committee constituted by Chief Minister Shahbaz Sharif here on Wednesday evening.

The committee was headed by Law Minister Rana Sanaullah who told Dawn that a decision whether the minister should immediately be removed or the government must wait for a verdict by the Lahore High Court in a related pending case on June 13, would be taken on Thursday (today) by PML-N President Nawaz Sharif upon his return from Dubai.

The verdict by the committee came amidst rumours that the minister had tendered his resignation.

Talking to a private television channel, and through an official handout, Mr Mahmood dispelled the rumours but said he would abide by any decision by the party leadership.

The committee also comprised top legal experts of the Punjab government, Law Secretary Abul Hasan Najmi, Advocate General Ashtar Ausaf Ali and Chief Minister’s Secretary Dr Tauqir.

The Supreme Court has suspended Senate membership of former Interior Minister Rehman Malik in view of a constitutional bar on parliament members to hold foreign nationality.

The finance minister, who was appointed recently by the PML-N Punjab government to present provincial budget for 2012-13, has also become controversial with regard to his declared religion.

The issue was agitated by the opposition on the opening day of the budget session on Tuesday.

Rana Sanaullah said the committee declared that legally Mr Mehmood did not qualify for holding the portfolio because of the dual citizenship.

He said the court could either adjourn the hearing of the case, or give a verdict requiring the minister’s removal. Therefore, a decision as to how to handle the issue was required to be taken.

Meanwhile, sources said the decision as to who would present the budget in case of Mr Mehmood’s removal would also be taken by Nawaz Sharif.

There could be two options -- to appoint a new minister or to give additional charge of the finance ministry to a sitting one.

In case the government goes for the second option, chances of Education Minister Mujtaba Shujaur Rehman were bright as he was also considered for the portfolio before it was given to Kamran Michael last year.