(November 24, 2021): The Pakistan Economy Watch (PEW) on Wednesday said the central bank should not be allowed to become a real threat to national security.
Why does the bank want more freedom in the presence of an imported governor and deputy governor, it questioned.
The IMF is planning to govern the country through its financial viceroy to fully cripple the limping economy and takeover, said Dr. Murtaza Mughal, President PEW.
In a statement issued here today, he said that the central bank is a symbol of the financial sovereignty of any country and it would be suicidal to leave it in the hands of international institutions.
He said that according to some independent economists, the central bank has played a major role in the destruction of the country’s economy.
With more freedom, it will become more empowered and will be free to play havoc with the economy.
The bank’s policy board consists of finance ministry officials who make important decisions in consultation with bankers.
Dissolving the important policy board will be the last nail in the coffin of the economy, after which a new colonial era will be imposed on the country and it will be ruled by a financial viceroy of IMF, he warned.
He said that after independence, the operations of many central banks have become more secretive and their actions are completely unexpected, sometimes resulting in a shock or an economic crisis.
Many analysts are of the opinion that all the policies created by central banks are in favour of big banks, leading investors, big businesses as well as business mafia and not in favour of the common people.
