Senate approves SBP amendment Bill

MG News | January 28, 2022 at 12:25 PM GMT+05:00

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January 28, 2022 (MLN): Senate of Pakistan, on Friday has approved SBP amendment Bill 2021, as 44 votes were cast in favour of the bill compared to 43 against the bill.

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

Finance Minister Shaukat Tarin tabled the bill which was approved with a slight majority.

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

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