Govt likely to get SBP Bill passed in today’s Senate meeting

January 28, 2022 (MLN): The government of Pakistan is likely to get the controversial State Bank of Pakistan (SBP) Amendment Bill 2022 passed in today’s meeting of the Senate which is currently underway.

The meeting will discuss the SBP amendment bill as the Senate chairman had referred the bill to the committee for consideration.

According to the meeting document, the minister for finance and revenue Shaukat Fayaz Ahmed Tarin will move forward the bill, which has been passed by the National Assembly, for further consideration and approval.

Having the SBP amendment bill passed by the Senate is mandatory for the government to revive International Monetary Fund’s (IMF) stalled $6 billion Extended Funding Facility (EFF) programme.

Earlier, on Wednesday the finance minister had requested the IMF to postpone Pakistan’s sixth review as the SBP amendment Bill is yet to be approved by the Senate. The meeting of the IMF Executive Board will now be held on February 2, 2022.

According to media reports, the IMF will not release the next $1 billion tranche if Pakistan fails to get the SBP Amendment Bill approved by the Parliament in due time.

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