Pakistan passes central bank autonomy law

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

The Senate of Pakistan passed a law granting greater independence to the central bank on January 28. The vote, carried 43–42, completes the parliamentary passage of the law.

The National Assembly, the lower house of parliament, approved the draft law on January 13. It will become law once signed by the president.

The International Monetary Fund required Pakistan to amend its central bank statute as part of a $6 billion, 39-month loan approved in July 2019. Pakistan promised to end monetary

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