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The exclusive privilege of originating money bills will belong to the House of Representatives.
Noting that the BJP, as the former Opposition, had blocked the insurance Bill for five Parliament sessions during the UPA's tenure, the Congress leader said his party had supported the government in passing the insurance and the anti- black money Bills.
On June 13, 1787, after the delegates had been in full session for over two weeks, (17) Elbridge Gerry of Massachusetts moved to "restrain the Senatorial branch from originating money bills.
Pakistan's Senate has no control over money bills, and does not have the powers most countries' upper houses or Senates enjoy.
Dr Waseem said that Pakistan Senate represents all the provinces but cannot affect any concrete policy making as it does not have the authority to pass money bill whereas Senates in the USA and Brazil are powerful enough in debating and passing the money bills.
On another note, Bakr claimed that Tamarod has launched a campaign encouraging people to print political messages, such as "No to Morsi", on money bills.
The government has to pass all money bills within 75 days of the Budget speech.
In fact, under the Constitution, the House must initiate all money bills.
The Money Bills Act (as required by the Constitution) for the first time provides Parliament with the statutory powers needed to fulfil its constitutional mandate regarding the budget.
De La Rue is one of several foreign firms the BSP taps for purposes of printing money bills or the supply of security paper.
Farooq Naek said it is gratifying to note that now the Upper House also has a role in the budget making in the sense that it can forward its recommendations of the Money Bills and Finance Bills to the National Assembly.
Ten bills received Royal Assent, most of them government bills: C-23, C-30, C-292, C-31, C-287, C-50, C-60 and C-21, as well as C-58 and C-59, both money bills.