Bilawal To Challenge SBP Ordinance In Court

Pakistan People’s Party (PPP) Chairman Bilawal Bhutto Zardari has said that the PPP will challenge the government’s move to hand over the SBP to IMF through an ordinance.

Addressing a press conference in Jacobabad, Bilawal Bhutto Zardari said, “Imran Khan’s government is responsible for the economic crisis facing the people of Pakistan.

“The elected Prime Minister cannot run the country and there is historic unemployment in the country today because of the MF deal,” he added

He said that in the last three years, the government has changed two finance ministers but the policy is the same.

He said that if the SBP followed the policy of the IMF, it would be an attack on its sovereignty, so the ordinance on the SBP would be challenged in court.

Bilawal Bhutto Zardari said that NAB and other institutions were being used against the opposition, NAB was trying to put pressure on our representatives.

Asked about the Pakistan Democratic Movement (PDM), he said that all parties should work together for three years and all issues would be taken up in the meeting of the Central Executive Committee (CEC) of the PPP.

Earlier, 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.