Our intent is to free SBP from political influence: Qureshi

Parliament is sovereign and all reports of central bank will come before it for scrutiny: Qureshi

ISLAMABAD (Dunya News) – Foreign Minister Shah Mahmood Qureshi on Tuesday has said that making State Bank of Pakistan (SBP) an autonomous institution is in accordance with fiscal responsibilities. Speaking in upper house of the Parliament, Senate, the minister recalled that Pakistan Muslim League-Nawaz (PML-N) and Pakistan Peoples Party (PPP) in their eras also introduced amendments to make the central bank autonomous. He said that our intent is to free the SBP from political influence. Shah Mahmood Qureshi, however, said the Board of Governors of State Bank of Pakistan will be appointed by Prime Minister Imran Khan and the Federal Cabinet. Parliament is sovereign and all the reports of central bank will come before it for scrutiny, he added. The FM further regretted the criticism of Leader of Opposition in the Senate against the Chair. He said the chair acted in accordance with the rule and used his discretion to vote in favour of SBP Amendment Bill.