SBP’s Independency Will Help Overcome Inflation From The Country, Shibli Faraz

Arhama AltafWeb Editor

09th Mar, 2021. 09:41 pm
Shibli Faraz

Minister for Information and Broadcasting Shibli Faraz has on Tuesday said that the State Bank Of Pakistan (SBP’s) independence will help boost and improve the economic situation of Pakistan.

Addressing a press conference after the federal cabinet meeting, Shibli Faraz said that the federal cabinet has planned to further empower the SBP while it has also given approval to the draft of SBP Amendment Bill 2021.

Backlashing the Opposition, the minister said that these corrupt elements make money illegally and then spend it, while, those who earn it through legal means will not do anything to harm the country’s reputation.

Shibli Faraz also said that the problems of this country would not have been solved in two and a half years while Prime Minister Imran Khan is still striving to change this approach.

Predicting the political parties, the information minister went on to add that there is a battle for leadership in PML-N, the future of PPP is not clear while Fazlur Rehman is not a member of parliament but always talks about resignations.

Faraz further hoped that during the ongoing Senate polls, only Sadiq Sanjrani will win the seat of Chairman Senate.

On the other hand, Finance Minister Abdul Hafeez Shaikh said the government will soon hold talks for the third tranche of aid from the International Monetary Fund (IMF), which was earlier delayed due to the novel Coronavirus outbreak.

While speaking to the press conference alongside Federal Minister of Industries and Production Hammad Azhar, Hafeez Shaikh said that the federal cabinet has given approval to the draft of the State Bank of Pakistan (SBP) Amendment Bill 2021.

The purpose of this Amendment Bill is to make SBP more strong to deal with the country’s economic crisis and help it improve the overall economical situation, added Abdul Hafeez.

The finance minister went on to add that the government has planned to further extend the occupancy of the SBP governor to 5 years.

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