Islamabad: The State Bank of Pakistan (SBP) should not hide economic weaknesses in its reports as it would undermine its reputation, suggested the Islamabad Chamber of Small Traders (ICST) on Tuesday. It asked the SBP to present a true picture of the economy and refrain from issuing encouraging statements. “The situation on the ground seems very different from what the central bank is trying to portray while the country’s ability to repay debt has been eroded,” said ICST Patron Shahid Rasheed Butt. He said the confidence of the masses and the business community in the central bank was essential for a smooth functioning of the financial system, therefore, responsibility of issuing highly optimistic statements should be left to the politicians.
Must Read
SBP sees uptick of $14.4mn in foreign reserves
Total liquid foreign reserves of the country stand at $13.373 billion as of April 12, 2024
