BeingPakistani
Minister (2k+ posts)
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No, it's not debatable. All central banks should be independent of the govt. Look what happened to Turkey where president is dictating their central bank. Their currency crashedIt's debatable whether SBP should be independent of the government
NS, Zardari, AH, Hussain Haqqani etc. are also Pakistanis and everyone knows how loyal they are with Pakistan.PMLN and PPP is doing their favorite job, which is misleading the public.
Independent SBP means that it will take financial decisions based on rationality rather than the government influencing it's decisions to please the general public.
It's debatable whether SBP should be independent of the government or not, but It by no means mean that SBP is being transferred to IMF because people handling issues of SBP are also Pakistanis, not from some other country.
In Pakistan, the role of the State Bank of Pakistan (SBP) was first defined in the State Bank of Pakistan Act 1956. Since then, the SBP Act has been amended several times to reflect changes in economic thought globally, including advocating for an independent role of central banks. Major revisions in the SBP Act came in 1994, 1997, 2012 and 2015. The introduction in parliament of SBP Amendment Act 2021 is a continuation of that process to modernize the central bank.
NS, Zardari, AH, Hussain Haqqani etc. are also Pakistanis and everyone knows how loyal they are with Pakistan.
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