SBP autonomy to hit economy: Rasheed

Staff Reporter

Former President ICCI Shahid Rasheed Butt on Monday said proposed autonomy of the State Bank of Pakistan (SBP) would hit the initiatives taken for economic recovery amid pandemic.

Almost all the countries have adopted policies against the IMF agenda to revive economic activities and improve employment which is badly hit by the coronavirus, he said.

Adopting IMF policies at this critical juncture will make economic recovery difficult and hit poor, the favourite target of the lender, he added.

Shahid Rasheed Butt said that SBP cannot be given a “Blank Cheque” in the guise of reforms and ending political interference as it is against the national interests.

He said that SBP will not be answerable to anyone in the proposed amendment which will set it free to abide by the IMF dictation discounting the national interests.