RealNapster
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autonomous = aka free from any audit
If you think autonomous just means free from any audit, well, what can I say to you than ??
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autonomous = aka free from any audit
If you think autonomous just means free from any audit, well, what can I say to you than ??
NAB, courts etc have been controlled by governments for decades. Current government has made them "independent" but it will take time to see affects as these institutions are still filled with friends of PMLN and PPP
I am disappointed to read the opinions that consider granting autonomy a disaster.
if this happens, then this will be the last IMF program as PMLN PPPP practice of currency manipulation and steriod injection growth will be over..The federal government has agreed to grant absolute autonomy to the State Bank of Pakistan (SBP), whereas the federal cabinet will take up the SBP Amendment Bill for approval in its meeting today.
According to a report by the Express Tribune, the central bank’s primary objective under the SBP Amendment Bill, 2021, would be to ensure domestic price stability as it would be free from the responsibilities of supporting economic growth and providing budgetary loans to revive the stalled International Monetary Fund (IMF) programme.
The bill states that supporting economic policies has been declared as “tertiary objective” of the central bank, while the National Accountability Bureau (NAB) and the Federal Investigation Agency (FIA) cannot investigate the SBP governor, deputy governors, its executives and board and committee members.
Former officials have also been provided with immunity from NAB and the FIA.
Similarly in another major proposal, the Monetary and Fiscal Policies Coordination Board has been proposed to be abolished, with a view to ending “risk of undue political influence over the SBP’s monetary policy”, according to the finance ministry. The
The bill also proposes the abolition of SBP’s powers to run quasi fiscal operations.
Commenting on the development, Bank of Punjab President and CEO Zafar Masud said, “Some of the clauses are an absolute must. IMF or no IMF.”
Taking to Twitter, he said “This should be done for all PSEs”.
Govt proposes absolute autonomy for SBP
The federal government has agreed to grant absolute autonomy to the State Bank of Pakistan (SBP), whereas the federal cabinet will take up the SBP Amendment Bill for approval in its meeting today.profit.pakistantoday.com.pk
Sir, I think the other autonomous bodies in Pakistan have a less than stellar record. Officially our judiciary is independent and completely autonomous and look where that got us.
if this happens, then this will be the last IMF program as PMLN PPPP practice of currency manipulation and steriod injection growth will be over..
we will finally become a country rather then a banana state like Zimbabwe, nigeria and Afghanistan where rupee is printed as much as we want
this one step alone will be greater then all the achievement of PMLN-PPPP put together, rather all the shit caused by PDM
IMF condition, please don't give credit to PTI lol
Pakistan economy policy is basically being run by IMF since 2018. I agree this is great step forward to get rid of boom and bust cycles.
aka, , the state bank will now work for IMF and would be 'free' from govt ' interference '
everyone has a boss...!
Favorite pasttime of Pakistanis.Pakistan me aajati Hy fatway aana shuru ho jaty.
Honorable Sit,
I agree with you that we have seen extraordinary judicial activism, but SBP is already supposed to be autonomous. What is being proposed is essentially what it should have been since 1997.