ISLAMABAD: The SBP (State Bank of Pakistan) Amendment Bill was passed in the Senate session. In the count for the amendment bill, the government got 44 against the opposition.
According to reports, the opposition tore up copies of the agenda and waved them in the air, besieging the chairman’s dice after the defeat in the passing of the ‘make-or-break’ bill.
The SBP Amendment Bill was introduced in the House by Finance Minister Shaukat Tareen. With 44 votes in favor of the amendment bill and 43 against it, the vote of the Chairman Senate played a crucial role.
Earlier, in the upper house, chaired by Senate Chairman Sadiq Sanjrani, opposition members demanded that the bill be introduced. On which the chairman of the Senate ruled that the government has requested to postpone the bill if anyone wants to talk about the presidential address, do so.
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Bill further to amend the State Bank of Pakistan Act 1956 passed by Senate with majority vote. Chairman Senate Muhammad Sanjrani exercised his right of a casting vote in favour of treasury….Read More ➡️https://t.co/ZJUTPOri8G pic.twitter.com/SHtxEWilNB
— ꜱᴇɴᴀᴛᴇ ᴏꜰ ᴘᴀᴋɪꜱᴛᴀɴ 🇵🇰 (@SenatePakistan) January 28, 2022
After the ruling by the Senate chairman, opposition members stood on their benches and demanded a bill. Some members even approached the Chairman’s Dice and recorded their protest.
Earlier, the Senate met under the chairmanship of Sadiq Sanjarani where he said that the SBP amendment bill is on the agenda, but the government is not presenting it. Initially, there was a hurry to introduce the bill, now no one is addressing it.
Meanwhile, Senator Sherry Rehman has said that the government wants to inform the IMF, the parliament has passed the bill. Passing the bill at midnight outlines the government’s agenda. The Vice President of the People’s Party, Senator Sherry Rehman, in her statement on the SBP Bill, said that the agenda issued at midnight is a means for the govt to outline its ‘hidden’ objectives. The government wants to inform the IMF (International Monetary Fund) that the parliament has passed a bill related to the SBP.
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Sherry Rehman said that the government also wants to snatch Pakistan’s ability to make independent decisions in times of national crisis. The government is trying to bulldoze the SBP’s sovereignty bill.
Sherry Rehman said that what will happen to the government’s ability to provide independent guarantees in major projects? These are listed as emergency liabilities, so the IMF can now control them as well. The opposition is against this decision of the government. This is the IMF’s condition, that the central bank will not give money to Pakistan in any crisis.
Senator Sherry Rehman added that this law is completely unacceptable. If the bill is passed, the SBP will operate under the supervision of the IMF, and not Pakistan. The federal government will need IMF’s approval to borrow from the SBP. Senator Rehman added, “We have never seen the Finance Minister himself giving such a warning. What is happening? Debts are skyrocketing”.
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