Shahid Khaqan Abbasi lashes PTI Government on SBP bill.
ISLAMABAD: Former Prime Minister Shahid Khaqan Abbasi said that the government has made the country hostile by passing the SBP bill. Governor SBP will be free, no one will ask. If the government wants to give relief to the people then SBP will become a hurdle for them.
In a news conference in Islamabad, Shahid Khaqan Abbasi said that SBP would not be accountable to anyone. Parliament will not be able to ask the SBP governor anything. In addition, the Governor SBP will be able to obtain information from international organizations which is an attack on national sovereignty and hostility to the country.
Shahid Khaqan Abbasi said that the bill related to SBP was passed at 11 pm. The next day the unveiling ceremony of National Security was held. SBP is completely independent of Pakistan’s affairs. The government’s policy will now be subject to the SBP. If the SBP law is passed, it will not approachable to the government.
The former prime minister said the law would make it more difficult for the government to run itself. The bill completely replaced the SBP Act of 1956. The nature and functioning of the SBP has changed. The SBP controlled the country’s financial system.
He said that people would no longer be subject to the policy of elected representatives. The effects of inflation, poverty and unemployment will be more on the lives of the people. The question arises as to how the salary of the Governor SBP will be fixed. After the law, SBP governors will be the highest paid in the country. The second most powerful person in Pakistan will be the Governor State Bank.
Shahid Khaqan Abbasi says that Deputy Governors will not be able to appointed without the consent of Governor SBP. The tenure for the Governor State Bank was 3 years which has now become 5 years.
The former prime minister said that 8 persons would be appointed in the board of directors which would be appointed by the government. The tenure for the Board of Directors will be 5 years. The term of government is also 5 years. The SBP bill had to be debated in Parliament.
Shahid Khaqan Abbasi said that if the government wants to give relief to the people then SBP can stop it. Decisions went to the State Bank which is not subject to anyone. The government’s sovereignty over the country’s economy and affairs was ended by this law. The Executive Committee will be responsible for all matters.