Senate passes SBP bill amid Opposition's protest

[fisher1]

Senate passes SBP bill amid Opposition's protest

Approval of SBP Amendment bill was necessary to ensure Pakistan’s sixth IMF review.Bill passed by majority vote as opposition kept expressing its reservations.Senate session adjourned till Monday 3pm.

www.geo.tv

Senate passes SBP bill amid Opposition's protest​

• Approval of SBP Amendment bill was necessary to ensure Pakistan’s sixth IMF review.
• Bill passed by majority vote as opposition kept expressing its reservations.
• Senate session adjourned till Monday 3pm.

---

ISLAMABAD: The Senate on Friday passed the State Bank of Pakistan (Amendment) Bill 2021 amid an outcry from the opposition on suffering back-to-back defeats in the House, where it otherwise enjoys a dominating numerical strength.
When Federal Minister for Finance and Revenue Shaukat Tarin tabled a motion seeking permission to introduce the SBP bill, the opposition members objected to it. A motion was put forth to vote through division and was carried by 44 against 43 votes, marking the first blow to the opposition in the day.
The bill was passed by a majority vote as the opposition kept on expressing its reservations.
On January 13, the National Assembly passed the SBP autonomy bill along with the supplementary finance bill — both these bills were a requirement by the International Monetary Fund (IMF) programme.
The approval of the State Bank amendment bill was necessary to ensure Pakistan’s sixth review of the $6 billion Extended Fund Facility (EFE) gets cleared by the IMF’s Executive Board which is scheduled to meet on February 2 to decide the disbursement of the $1-billion tranche.
The Senate session has been adjourned till Monday 3pm.

Senate session: who showed up?​

During the session, 12 members were absent, including eight members of the Opposition, two of the government and two from independent candidate Dilawar Khan’s group.
PPP’s Yousuf Raza Gillani, Qasim Ranjho and Sikandar Mendro did not attend the session.
Among Opposition members, Pashtoonkhwa Milli Awami Party’s Shafiq Tareen and Naseema Ehsan did not attend the meeting.
Meanwhile, JUI’s Talha Mahmood and Hidayatullah and Hilal-ur-Rehman, two of the six members of the Dilawar Khan group, were absent from the meeting.
Among the government allies, Senator Faisal Sabzwari and Khalida Ateeb of MQM were absent from the meeting.

Sherry Rehman lambasts govt​

Earlier, PPP Senator Sherry Rehman via Twitter lashed out at the PTI-led government for stripping the country of its autonomy to make decisions by trying to bulldoze the State Bank of Pakistan (Amendment) Bill 2021.
In a series of tweets, Rehman took exception to the issuance of the agenda for today's meeting of the Senate.


The Senator said that issuing the agenda at such a juncture was "unprecedented for government's standards of parliamentary manipulation", which also was proof of the government's "intimidation".
"This is how the government is trying to bulldoze the SBP’s 'autonomy' bill, whereby it strips the country of its own ability to make sovereign decisions in times of national crises," she wrote.
Rehman further stated that the government wants to imply to the IMF that the SBP bill was passed with parliamentary approval but actually, the entire Opposition is against it.
"While borrowing from the State Bank is not always prudent, often inflationary, the IMF’s condition that Pakistan’s central bank can’t raise money at all will impact our sovereign ability to mobilise funds in national emergencies, even war," Rehman said, adding that this is unacceptable.


The Senator further stated that central banks are autonomous only to the extent they make monetary policy but it seems that PTI has borrowed so much in the last three and a half years of its rule that commercial banks will soon become the only lenders.
"What will happen to the SBP, lender of last resort when crisis looms? What will happen to the government’s ability to put down sovereign guarantees in big projects?" she asked.
Rehman said that the debt has been listed as contingent liabilities so that the IMF can overrule even them.
"Such terms are unheard of and rejected by the joint opposition," she asserted.
"Did we hear the finance minister say the central bank should advise the commercial banks that the government may default on its domestic debt? What is going on here? The borrowing has gone through the roof, but this is quite unprecedented," Rehman concluded.


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[Norwegian]

I said several times this kanjar Imran Nazi hates Muslim, today Pakistan officially loses its autonomy as well and IMF will be deciding how to run the economy of our country

Reported you for this abusive language

 

[Norwegian]

hand over the country to IMF

Pakistan went to IMF 21 times before Imran Khan after achieving near bankruptcy. But you Bughaz Imranis had no problem with that. Now all of a sudden on the 22nd time you believe country is sold to IMF?

 

[Abid123]

The Patwaris are out in force. Beware!

 

[Flight of falcon]

I said several times this kanjar Imran Nazi hates Muslim, today Pakistan officially loses its autonomy as well and IMF will be deciding how to run the economy of our country

The sardar(king) of Munafiqeen Imran Khan Nazi came to power promising he will kill himself before taking IMF loans, who knew the munafiqeen sardar will actually hand over the country to IMF

Senate passes SBP bill amid Opposition's protest

Approval of SBP Amendment bill was necessary to ensure Pakistan’s sixth IMF review.Bill passed by majority vote as opposition kept expressing its reservations.Senate session adjourned till Monday 3pm.

www.geo.tv

Senate passes SBP bill amid Opposition's protest​

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• Approval of SBP Amendment bill was necessary to ensure Pakistan’s sixth IMF review.
• Bill passed by majority vote as opposition kept expressing its reservations.
• Senate session adjourned till Monday 3pm.

---

ISLAMABAD: The Senate on Friday passed the State Bank of Pakistan (Amendment) Bill 2021 amid an outcry from the opposition on suffering back-to-back defeats in the House, where it otherwise enjoys a dominating numerical strength.
When Federal Minister for Finance and Revenue Shaukat Tarin tabled a motion seeking permission to introduce the SBP bill, the opposition members objected to it. A motion was put forth to vote through division and was carried by 44 against 43 votes, marking the first blow to the opposition in the day.
The bill was passed by a majority vote as the opposition kept on expressing its reservations.
On January 13, the National Assembly passed the SBP autonomy bill along with the supplementary finance bill — both these bills were a requirement by the International Monetary Fund (IMF) programme.
The approval of the State Bank amendment bill was necessary to ensure Pakistan’s sixth review of the $6 billion Extended Fund Facility (EFE) gets cleared by the IMF’s Executive Board which is scheduled to meet on February 2 to decide the disbursement of the $1-billion tranche.
The Senate session has been adjourned till Monday 3pm.

Senate session: who showed up?​

During the session, 12 members were absent, including eight members of the Opposition, two of the government and two from independent candidate Dilawar Khan’s group.
PPP’s Yousuf Raza Gillani, Qasim Ranjho and Sikandar Mendro did not attend the session.
Among Opposition members, Pashtoonkhwa Milli Awami Party’s Shafiq Tareen and Naseema Ehsan did not attend the meeting.
Meanwhile, JUI’s Talha Mahmood and Hidayatullah and Hilal-ur-Rehman, two of the six members of the Dilawar Khan group, were absent from the meeting.
Among the government allies, Senator Faisal Sabzwari and Khalida Ateeb of MQM were absent from the meeting.

Sherry Rehman lambasts govt​

Earlier, PPP Senator Sherry Rehman via Twitter lashed out at the PTI-led government for stripping the country of its autonomy to make decisions by trying to bulldoze the State Bank of Pakistan (Amendment) Bill 2021.
In a series of tweets, Rehman took exception to the issuance of the agenda for today's meeting of the Senate.


The Senator said that issuing the agenda at such a juncture was "unprecedented for government's standards of parliamentary manipulation", which also was proof of the government's "intimidation".
"This is how the government is trying to bulldoze the SBP’s 'autonomy' bill, whereby it strips the country of its own ability to make sovereign decisions in times of national crises," she wrote.
Rehman further stated that the government wants to imply to the IMF that the SBP bill was passed with parliamentary approval but actually, the entire Opposition is against it.
"While borrowing from the State Bank is not always prudent, often inflationary, the IMF’s condition that Pakistan’s central bank can’t raise money at all will impact our sovereign ability to mobilise funds in national emergencies, even war," Rehman said, adding that this is unacceptable.


The Senator further stated that central banks are autonomous only to the extent they make monetary policy but it seems that PTI has borrowed so much in the last three and a half years of its rule that commercial banks will soon become the only lenders.
"What will happen to the SBP, lender of last resort when crisis looms? What will happen to the government’s ability to put down sovereign guarantees in big projects?" she asked.
Rehman said that the debt has been listed as contingent liabilities so that the IMF can overrule even them.
"Such terms are unheard of and rejected by the joint opposition," she asserted.
"Did we hear the finance minister say the central bank should advise the commercial banks that the government may default on its domestic debt? What is going on here? The borrowing has gone through the roof, but this is quite unprecedented," Rehman concluded.

My ultimate solution to protect Pakistan…. Castrate every low IQ Patwaris or else we will have more inbreds roaming around making it possible for NAWaz family to come back.

The Patwaris are out in force. Beware!

Yes Big Fool, Malik , Jack the stripper , desperate single and unwanted ,space jam and Batboy (gay version) are all active. Looks like their daddy reactivated them.

 

[baqai]

Country might have gone to IMF before but never before we gave them key to run everything

 

[Norwegian]

Country might have gone to IMF before but never before we gave them key to run everything

Run everything? Like what? This govt passed laws to make SBP independent. This was never done before. Opposition called it surrender to IMF when this is well established international practice that state banks are independent of the govt to avoid political interference in country's monetary policy (Ishaq Dar or Erdogan style).

 

[Flight of falcon]

Country might have gone to IMF before but never before we gave them key to run everything

making state bank independent ( like 90 percent of world countries) is fundamental to economic running and to prevent Nawaj and his tubbar from using SBP as his personal fiefdom

 

[Norwegian]

Here is another gem…making state bank independent ( like 90 percent of world countries) is fundamental to economic running but again Nawaj could be a foreign minister and SBP chair

Idiots don’t even understand basics of running country’s economy….. Jatti Umaro Jan adda had more more money than SBP

Exactly. We have Tom, Dick, Harry commenting here on everything without basic knowledge about anything

 

[baqai]

Here is another gem…making state bank independent ( like 90 percent of world countries) is fundamental to economic running but again Nawaj could be a foreign minister and SBP chair

Idiots don’t even understand basics of running country’s economy….. Jatti Umaro Jan adda had more more money than SBP

Sir / Bhai with all due respect, i didn't insulted anyone, neither i remember ever insulting ANYONE here, so referring to me as an IDIOT just because i share an opinion is just uncalled for

Secondly i was never/will never be NAWAJ supporter so kindly stop stereotyping, if you can have a healthy discussion without throwing insults my way please go ahead otherwise kindly talk to me in a mutual respectable manner. Clear?

Like i said we have always gone to IMF regardless of government, what makes an exception this time besides the tall claims of "kashkool toor du ga" is that we never let them dictate the way this time we are being dictated.

 

[Flight of falcon]

Sir / Bhai with all due respect, i didn't insulted anyone, neither i remember ever insulting ANYONE here, so referring to me as an IDIOT just because i share an opinion is just uncalled for

Secondly i was never/will never be NAWAJ supporter so kindly stop stereotyping, if you can have a healthy discussion without throwing insults my way please go ahead otherwise kindly talk to me in a mutual respectable manner. Clear?

Like i said we have always gone to IMF regardless of government, what makes an exception this time besides the tall claims of "kashkool toor du ga" is that we never let them dictate the way this time we are being dictated.

Respect that and I am sorry. I was under attack by Patwaris and didn’t see it is you. Message deleted …

 

[baqai]

Exactly. We have Tom, Dick, Harry commenting here on everything without basic knowledge about anything

Basic Knowledge about anything would be going over the edge don't you think? considering everyone an IDIOT is your answer to an argument or a statement? how about taking a mature approach and try to put your point across without resorting to sarcasm or insults, trust me anyone can go down that lane and i am not an exception but i rather choose to discuss in a manner which reflects my basic manners, values and brought up

 

[Wood]

Pakistan went to IMF 21 times before Imran Khan after achieving near bankruptcy. But you Bughaz Imranis had no problem with that. Now all of a sudden on the 22nd time you believe country is sold to IMF? View attachment 811742

More important question is - What is Imran's plan to wean Pakistan away from the claws of IMF? Please don't bombard me with export charts. Without a view of overall trade balance, the exports taken in isolation may be misleading

 

[Patriot forever]

Country might have gone to IMF before but never before we gave them key to run everything

Bro do you seriously believe that or is it for the sake of politics?

Having an autonomous state Bank is corner stone of financial sustainability for a country. The reason you end up at IMF doorsteps every few years is because of the interference in SBP ( from currency manipulation to printing).

I am not defending the IMF here, I am defending the SBP.

I might have expected this from someone like Fisher1 or Jackthe ripper whatever but not a member like you.

 

[Flight of falcon]

More important question is - What is Imran's plan to wean Pakistan away from the claws of IMF? Please don't bombard me with export charts. Without a view of overall trade balance, the exports taken in isolation may be misleading

When you are in trouble you have no choice but to grab the best available option .
It’s either IMF, which by the way is absolutely unfair, but it has forced us to do some macro economic adjustments which if not reversed will bear long term economic benefits. It will take some time but giving independence to SBP is absolutely important. Let them decide economic policies and not take orders from Jatti Umra for money laundering.

This option is not as bad as selling your soul to Saudis to make peace with Israel , or to sell your nuclear security to America .