Saturday, October 1, 2022

Pakistan economy handed over to SBP, says Shahid Khaqqan Abbasi

Pakistan economy handed over to SBP, says Shahid Khaqqan Abbasi

LAHORE (92 News) – PML-N leader Shahid Khaqqan Abbasi has said that the government policies will be under the State Bank of Pakistan (SBP) now.

Addressing a press confernce on Monday, he said that Pakistan’s economy has been handed over to the SBP “If this act got approved in the Senate then neither the SBP will listen to the government nor the parliament. The tasks performed by the international financial institutions will now be done by the SBP. The running of the government will become more difficult,” he added.

He said that the SBP (Amendment) Bill was approved at 11pm and the National Security Policy was unveiled the next day. “The people have been overburdened with Rs700 billion through the mini-budget. Not any bank in the world has autonomy like the SBP. There should be discussion in the the parliament regarding the SBP Bill,” he maintained.

Shahid Khaqqan said that the PTI took loan of Rs5,000 billion in its first fiscal year. “There is no set criterion of appointing eight board members of the SBP, including the SBP governor. A Master's degree holder with 10-year experience will be eligible to become the SBP Governor under the new law,” he concluded.