The approval of the amendment bill was the condition that was hampering a deal between Pakistan and the International Monetary Fund (IMF) for $1 billion loan tranche, Tarin revealed here. On a question, Tarin revealed that the pending condition was related to the SBP Amendment Bill 2021. “The agreement that had been reached last time with the IMF required some constitutional amendment, which cannot be done as we do not have two-thirds majority,” he said. The legal experts from Pakistan and the IMF were also scheduled to meet on Monday to review whether the position taken by Pakistan about the constitutional amendment was correct. The sources said that proposed sections 15, 46B and 52A of the SBP Amendment Bill 2021 were against the spirit of the Constitution.

Source: The Express Tribune November 02, 2021 09:39 UTC