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SBP bill, Mini-budget to be passed today

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January 13, 2022 (MLN): The controversial State Bank of Pakistan (Amendment) Bill 2021 and Finance Supplementary bill will be passed today, sources informed MG News.

As per the sources, the parliamentary session is currently going on and Finance Minister Shoukat Tarin is considering withdrawing taxes on milk and other food items.

Sources further informed that Rs33bn worth of subsidies will be provided to offset any impact.

To recall, on Monday, the National Assembly’s Standing Committee passed the proposed amendments to the State Bank of Pakistan (SBP) Act.

The amendments were part of the International Monetary Fund’s (IMF) prerequisites for completion of the periodic review and release of the pending $1 billion tranche under the Extended Fund Facility (EFF).

Pakistan’s adviser to Prime Minister on Parliamentary Affairs, Babar Awan, while speaking to be media said that the National Assembly would approve the mini-budget in its session on January 13, 2022.

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Posted on: 2022-01-13T16:06:47+05:00