New SBP Act to Increase Central Bank s Autonomy and Transparency propakistani.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from propakistani.pk Daily Mail and Mail on Sunday newspapers.
The federal cabinet on Tuesday approved sweeping powers for the central bank in haste to meet a condition of the International Monetary Fund (IMF), but it neither set an explicit inflation target nor ensured accountability.
The federal government has finally agreed to give absolute autonomy to the State Bank of Pakistan (SBP), freeing it from responsibilities of supporting economic growth and providing budgetary loans to revive the stalled International Monetary Fund (IMF) programme, a draft bill reveals.
The federal government has prepared a draft bill proposing complete autonomy for the State bank of Pakistan (SBP). Once approved, the central bank will be
Planning Commission proposes cut in interest rate
Planning Commission recommends keeping currency stable
The Monetary and Fiscal Policies Coordination Board met ahead of the SBP-led monetary policy committee meeting, which is going to review the interest rate for next two months. PHOTO: PID
ISLAMABAD:
The Planning Commission on Thursday recommended to a high-powered board to cut interest rate to stimulate the economy and also did not favour any further rupee depreciation, saying previous fall in the currency’s value did not help exports.
The recommendations were made to the Monetary and Fiscal Policies Coordination Board, chaired by Finance Minister Dr Abdul Hafeez Shaikh, according to sources. State Bank of Pakistan (SBP) Governor Dr Reza Baqir was also among the participants.