Lambasting the new bill in Pakistan's National Assembly, the country's former Finance Minister Miftah Ismail said that with the government's unveiling of a new amendment bill the State Bank of Pakistan (SBP) has "now become the State Bank of IMF."
The Pakistani government was "completely reliant" on the international money lender for its policies, The News International quoted Pakistan Muslim League-N leader Miftah Ismail as saying as he criticised the SBP Amendment Bill at a press conference on Friday.
Ismail also said that State Bank is now a higher authority than the parliament. "We are not against the State Bank of Pakistan's autonomy, but now, there will be no oversight of the fiscal and monetary policy," The News International quoted Ismail as saying.
Lashing out at Prime Minister Imran Khan, he said that the Pakistan government now will not be able to borrow money in need from the State Bank of Pakistan as the government has surrendered before the IMF.
Ismail also said that even if a flood hits the country, the Imran Khan government cannot take loans from the SBP.
Hitting at the government, he said that now parliament can no longer circulate summaries without the "IMF State Bank's" approval.
( With inputs from ANI )
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor