The federal cabinet has deferred approval of the State Bank Amendment Bill 2024, which seeks to remove the ban on dual citizenship for key positions in the State Bank of Pakistan (SBP).Â
The proposed amendment aims to delete Section 13A of the State Bank Act, which currently prohibits dual nationals from being appointed as SBP governor, deputy governor, or members of the Monetary Policy Committee. The Finance Division supports lifting this restriction to allow foreign experts to take up these roles.
According to a news report, the bill was presented by the Finance Division on Monday, but the cabinet did not grant its approval.
Prime Minister Shehbaz Sharif has also expressed reservations over the proposal and announced that he would personally chair a review committee to assess the amendment.Â
Previously, the cabinet had formed a committee under Planning Minister Ahsan Iqbal to evaluate the proposal. The dual nationality restriction was introduced in 2022, and its potential removal has sparked debate within the government.
Meanwhile, in the Senate, the final day of the parliamentary year saw a resurgence of controversy over the State Bank Amendment Bill 2024. Opposition senators demanded that the pending headcount result on the bill be released before the session concluded on Tuesday.
Despite repeated calls for Chairman Senate Yousaf Raza Gilani to disclose the voting outcome, the demand was not met before the session was prorogued, leaving the issue unresolved.
