Revised SBP Amendment Bill Approved by Cabinet
Islamabad: According to our sources, the Cabinet adopted the revised State Bank of Pakistan (SBP) (Amendment) Bill on Tuesday in order to ensure that the sixth review of the $6 billion Extended Fund Facility (EFF) is approved by the International Monetary Fund’s executive board (IMF). It will facilitate the disbursement of a $1 billion tranche.
It would assist the SBP in effectively prioritizing policy decisions to ensure Pakistan’s sustainable economic growth. Those nations that emphasize growth over cost and financial stability are able to sustain growth.
In order to accomplish the goals, the adjustments will properly line with SBP functions and compile them under a new section. The SBP will continue to grant re-financing credit to financial institutions with the necessary safeguards in place.
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