State Bank au­ton­omy

Enterprise - - Letter -

The State Bank of Pak­istan has in­jected Rs 1.14 tril­lion into the bank­ing sec­tor. This act has caught the at­ten­tion of many econ­o­mists who are won­der­ing whether the move is solely for whet­ting the gov­ern­ment’s ever in­creas­ing ap­petite for loans. They are forced to ask as to what kind of in­de­pen­dent mon­e­tary pol­icy this is.

In my opin­ion, the State Bank ac­tion flies straight in the face of the re­cent SBP (Amend­ment) Bill, 2015 passed by the Na­tional Assem­bly that calls for more au­ton­omy for the State Bank.

Iron­i­cally, the said bill was tabled af­ter the op­po­si­tion mem­bers had staged a walk-out protest on the pre­text that cab­i­net mem­bers were not tak­ing the house busi­ness se­ri­ously. Is this a joke or what AY­MEN AH­MAD, Layyah

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