The government has the right to review the International Monetary Fund (IMF) programme and is open to recommendations to improve the bill regarding autonomy to the State Bank of Pakistan (SBP), new Finance Minister Hammad Azhar said on Wednesday. Addressing his maiden press conference after taking over the most difficult job of reviving the national economy, Azhar said that his government would take the SBP Amendment Bill to parliament with an “open mind”. The SBP autonomy bill is in accordance with the best international practices but “we will take it to the parliament with an open mind and accept the recommendations”, Azhar said, while responding to a question. The government can also review the IMF programme, said Azhar, while responding to another question whether the government will review the design and the harsh conditions set for the revival of the fund programme. The IMF programme is not static and the structural benchmarks can be renegotiated in the light of the adverse implications of the deadly pandemic on the country, said a government official.

Source: The Express Tribune April 01, 2021 03:39 UTC