Pakistan's upper house of the parliament on Wednesday passed a law to allow the creation of a sovereign wealth fund which will have the country's solvent assets parked in it.

Finance Minister Ishaq Dar passed the bill that was already passed in the lower house of the parliament. The upper house's speaker, Sadiq Sanjrani, announced the bill becoming law in a live telecast. (Reporting by Asif Shahzad; Editing by Christina Fincher)