National
April 5, 2021
Mostly in the developed countries, making state institutions autonomous is indeed a goal for attaining prosperity. Pakistan is also aiming towards this aspect and making institutions independent, including the State Bank of Pakistan (SBP). Though Pakistan has become independent and sovereign but it is still in a colonial mode. Hence, limited autonomy to the institutions may work well, as one cannot have a country which is in the colonial mode but whose institutions are fully autonomous and sovereign.
Indeed, there are three characteristics which distinguish a sovereign country from one in the colonial mode. One, its policies are made abroad. Two, those who implement these policies are imported. Three, colonial transfers from the colony to the colonial power take place. In the light of these three characteristics, Pakistan is still in the colonial mode. Its policies are believed to be made abroad, its ministers and advisers are often foreign and dual nationa