April 17, 2019 (MLN): The State Bank of Pakistan has issued a clarification regarding news circulating on social media regarding the Government’s plan to introduce Treasury Single Account (TSA).
In a statement issued by the SBP, it clarified “While the proposal to introduce TSA is being examined by the Government of Pakistan in consultation with SBP as part of its agenda to reform public financial management, however, no decision has yet been made to implement the TSA”.
The central bank further said that any decision in this regard will be taken after due consultation with all the stakeholders and assessing its impact on the banking industry, adding “It will, therefore, be premature to form any opinion about the proposed policy decision and thus the market players should avoid engaging in any speculative activities based on this proposal which is still under examination.”
It should be mentioned that the Banking Sector took a major hit in the stock market after news of TSA being introduced started circulating.
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