Government policies cause of resign: Kardar

Pakistan

Government policies cause of resign: Kardar

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Former SBP governor Shahid Hafiz Kardar said that he resigned over governments policies.

15 July,2011 08:05 pm

He said, “Owing to continuing differences of opinion on policy actions and on the implementation of certain directions that I, in my best judgement, did not consider to be prudent or consistent with the integrity of the bank, I am constrained to offer my resignation.”All the decisions were taken to safeguard the integrity of the bank, to ensure prudent conduct of monetary policy and to maintain the safety, soundness and stability of the banking system, he added.He said, “For these reasons and, more importantly, to avoid possible paralysis in economic decision making in these difficult times for our nation, the only honourble course for me is to leave my position.”