ICST urges SBP not to hide economic weaknesses of Pakistan

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.

- Advertisement -
- Advertisement -

Must Read

Sri Lanka seeks 10-year debt moratorium ahead of IMF bailout

COLOMBO: Cash-strapped Sri Lanka is seeking a 10-year moratorium on its foreign debt, President Ranil Wickremesinghe's office said Monday on the eve of a desperately needed...