Opposition legislators advise govt not to compromise Pakistan's financial autonomy

Islamabad: Opposition legislators in the National Assembly staged a strong protest on Wednesday against the government's move to legislate on the State Bank of Pakistan (SBP) Amendment Bill and the Tax Laws (Fourth) Amendment Bill.

The protest followed the approval of the SBP bill by the federal cabinet on Tuesday. The bill proposed to curtail the government's borrowing from the central bank, while the tax bill has been deferred.

Speaking during the session, PML-N lawmaker Khawaja Asif asked the government to be empathetic and not legislate on the bills as they would have adverse effects on the country's economy.

"The government is planning on surrendering the country's financial autonomy through mini-budget and the state bank bill. I plead with you not to surrender the country's financial sovereignty," the lawmaker told the treasury benches.

For his part, PPP leader and former prime minister Raja Pervaiz Ashraf asked the Opposition benches to join hands and stop the government from legislating on the bills.

"I've heard that someone is planning on tabling a mini-budget. This will increase the woes of the people who are already under pressure due to rising inflation, unemployment, and gas crisis," he said.

Foreign Minister Shah Mahmood Qureshi, in his reponse to the Opposition, said it was crucial to analyse the factors behind Pakistan's economic woes.

He assured the house that the government was responsible for the country's economic sovereignty and it would take necessary steps for it.

Interior Minister Sheikh Rasheed said whether the mini-budget is tabled in the Parliament on January 12 or 15, there would be no dire consequences as it would sail smoothly.