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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.

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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.

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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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