The Federal Cabinet, which is scheduled to meet today (9th Mar’21), is likely to approve the State Bank of Pakistan (SBP) amendments Bill, 2021, a prior action under the second to fifth staff review of IMF’s Extended Fund Facility Programme, sans nod of Cabinet Committee for Disposal of Legislative Cases (CCLC) as Finance Ministry wants the Bill to be introduced in Parliament urgently. According to the draft Bill, the authorized capital of the Bank shall be PKR 500Bn, divided into 5Bn shares of PKR 100 each.
9/3/2021