SBP bill won’t be a compromise on economic sovereignty: FM

ISLAMABAD: Foreign Minister Shah Mahmood Qureshi has said that the proposed amendments to the State Bank of Pakistan (SBP) laws will not compromise economic sovereignty of the country.

Talking to the media at the Parliament House on Thursday, the foreign minister said that members were briefed in the Cabinet meeting regarding the State Bank (Amendment) Bill and Finance (Supplementary) Bill.

He said that the government will protect the country’s economic sovereignty, adding that protecting the country’s economic independence is a prime responsibility of the government.

He said that it is the parliamentarians’ right to be acquainted with the legislation and that the finance minister had responded to questions raised by the legislators about the supplementary bill as well as amendments to SBP laws.

The foreign minister said the parliament is empowered to amend any law with a simple majority if required to remove any lacuna.

Earlier, Prime Minister Imran Khan chaired the meeting of the parliamentary party, wherein Finance Minister Shaukat Tarin apprised the participants of the finance bill and also addressed their concerns about the amendments to the SBP laws. The meeting of the parliamentary party was attended by the cabinet members as well as other members of the parliament.