According to reports, the IMF initiative has sparked controversy because the due legislative procedure for the State Bank of Pakistan (SBP) Amendment Bill was bypassed in haste.
The SBP bill should have been given to the Cabinet Committee for Disposal of Legislative Cases (CCLC) according to the norms, but it was neglected due to the preferences and whims of some influential elements, according to sources.
The protracted debate has increased macroeconomic uncertainty in Pakistan, as the rupee continues to fall and reached fresh highs versus the US dollar on Friday.
