Pakistan government approves SBP autonomy law

state-bank-of-pakistan-sbp
The State Bank of Pakistan
Photo: SBP/Abbas Ali Khan

The Pakistani cabinet approved a draft central bank law on March 9 that establishes the independence of the State Bank of Pakistan, according to media reports.

The proposed legislation will change the mandate, governance and autonomy of the SBP, the Express Tribune newspaper reports. The Pakistani government committed to central bank reforms as part of an $6 billion International Monetary Fund loan agreed in July 2019.

The cabinet will now present the law, the State Bank of Pakistan Amendment

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