SBP governor’s resignation: Institutions are under assault, alleges PTI

Its lawmakers claim officials are being subjected to pressure, harassment.

ISLAMABAD:

The sudden resignation of the governor of the State Bank of Pakistan created ripples in the National Assembly session on Friday.

The opposition accused the government of what it called a ‘systematic assault’ on economic institutions, with MNA Dr Arif Alvi alleging that the government is forcing the heads of autonomous organisations to resign. The SBP governor, he claimed, resigned under pressure from the government and finance ministry.

Meanwhile, MNA Asad Umar said officials including the prime minister had taken hefty loans from the banks due to a lack of economic policies and the state bank’s pliable position. “The loan cases of a number of people including the Leader of the House are pending in various courts,” he pointed out, adding that the SBP is entitled to ask the prime minister and finance minister why it must grant a Rs100 billion loan simply on the government’s request.

“In order to effectively regulate the economy, SBP should function as an independent organisation,” he added, saying, “We suspect the governor resigned after the institution’s autonomy was challenged in consistent interference from the government.”



He questioned the government’s intentions as the heads of the National Electric Power Regulatory Authority, Securities and Exchange Commission of Pakistan and Competition Commission of Pakistan have yet to be appointed. Pakistan’s foreign exchange reserves, currently at Rs3.3 billion, are being arranged from commercial banks, he said.

PTI MNA Shafqat Mahmood cited the case of former NADRA chairman Tariq Malik, saying “he was first removed and then his family was threatened and harassed.” Mahmood said Pemra Chairman Chaudhry Rashid Ahmad is also being harassed by the government. He said the government is dragging its feet on the appointment of a permanent head of the ECP.

PML-N’s Mian Abdul Manan came to his party’s defence, saying the PTI leaders did not have their facts in order. “There is propaganda against the printing of notes,” he said, “but the government printed notes worth Rs780 billion and deposited Rs464 billion of this amount.”

Mass grave in Khuzdar

The Ministry of States and Frontier Region’s (SAFRON) Abdul Qadir Baloch informed the assembly session that the Balochistan government has sought the services of a High Court judge to probe the discovery of a mass grave in the Tutak area of Khuzdar.

Speaking on a point of order, JUI-F member Aliya Kamran said no federal or provincial minister has visited the site of the graves or the bereaved families. “It is unfortunate that the government is not paying attention to the atrocities committed against the people of Balochistan,” she said.

Published in The Express Tribune, February 1^st, 2014.