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Legislations on SBP autonomy to be reversed in future, predicts Abbasi

Pakistan Muslim League-N (PML-N) leader and former prime minister Shahid Khaqan Abbasi. Image: Screengrab from TV

ISLAMABAD: Former Prime Minister and PMLN Senior Vice President Shahid Khaqan Abbasi said on Friday that the legislation regarding State Bank Of Pakistan would be reversed because no country surrenders its economic sovereignty for Rs 6 billion.

He said that January 13 was one of the darkest days of the history of Pakistan and parliament as over Rs 700 billion taxes were imposed on the nation by violating parliamentary rules, conventions and traditions, adding that Speaker of National Assembly Asad Qaiser on the directions of Imran Khan Niazi and his cabinet, trampled upon all parliamentary rules, conventions and traditions. They insured that the representatives of the people wouldn’t be able to discuss this Rs 700 billion in taxes, and couldn’t even vote on it

The former Prime Minister said it was an unprecedented act in the history of the country since 1973 that Rs 700 taxes were imposed on the people other than the budget, while the Parliament was not even allowed to set a word about it, let alone debate this terrible legislation. These bills were approved in a hurry in the dark of the night, but the government couldn’t explain why they were rushed.

In addition to this, the most dangerous legislation was passed that had handed over the keys of Pakistan’s entire economy to a foreign entity. That bill too was posted at 11:00 pm, without any debate or vote, he said.

He said the Speaker was asked a number of times to allow discussion over this bill but he refused. The ministers of this government in their private conversations say that they were helpless at the hands of the IMF to pass this bill. If they were so helpless, they should have at least allowed the opposition to debate this in the Parliament, he added.

Abbasi said, “everyone including IMF must know that these bills would be reversed because no country surrenders its economic sovereignty for just $ 6 billion”.

“This PTI government had boosted by bringing $200 billion, out of which $100 billion were to be thrown in the face of the IMF, but the IMF is smacking $6 billion in PTI’S face and that too they were not willing to give. Is there anyone in this PTI government that would answer for this contradiction”, he said.

He said the tsunami of inflation that would follow this Rs 700 billion new taxes would crush the already burdened people of Pakistan. The government had no concern or understanding of how this would impact the people, they were only consumed with fulfilling the wishes of the IMF, he said. Pakistan right now was the 4th most expensive country in the world, this bill would bring the country to number 1 and this PTI government would tout it as its achievement as well, he said.

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