The former SBP Governor says that the government should not repeatedly borrow a huge amount of money from commercial banks.
KARACHI: (UrduPoint/Pakistan Point News-Dec 31st, 2021) Former State Bank of Pakistan Governor Dr Ishrat Hussain expressed reservations over the bill brought to give autonomy to the central bank.
Dr. Ishrat Hussain said that the monetary and fiscal board should not have been dissolved.
He expressed these views while talking to a local private tv on Friday.
The former SBP Governor said that the government should not repeatedly borrow a huge amount of money from commercial banks, adding that the IMF should also have counseled the government that prioritising price stability over economic growth to this extent, would not be a healthy option.
He stated that the policies of the country should go in the same direction.
Federal Minister for Finance Shaukat Tarin presented the SBP Amendment Bill with the supplementary finance bill in the NA, as a pre-requisite to resume the $6 billion External Fund Facility (EFF) of the International Monetary Fund (IMF).
However, the opposition strongly opposed the bill and staged protest against it. The leaders of the opposition also chanted slogans against Shaukat Tarin to stop him from presenting the bills. PML-N leader Khawaja Asif had criticized the PTI government, saying that it should not sell the country.
