ISLAMABAD: A resolution has been submitted by the Muttahida Qaumi Movement (MQM) in the Senate secretariat expressing concern over government move to shift any department or wing of the SBP to any place outside Karachi.
The resolution was submitted by Senator Tahir Hussain Mashhadi of the MQM.
It reads: “This House is of the considered opinion that the move by the government to shift the five components of Banking Services Corporation of the SBP dealing with currency management, government banking, internal audit, foreign exchange management and implementation of development policies of Development Finance Group (DFG) to Lahore or any other place outside of Karachi is mala fide and for some ulterior motives.”
Earlier this month, the SBP had announced that some of its important functions were being shifted to Lahore in order to enhance the efficiency of its Banking Services Corporation (SBP-BSC).
“Out of 11 departments of the SBP-BSC, five departments dealing with currency management, government banking, internal audit, foreign exchange operations and implementation of Development Finance Group-related policies are being partially relocated to these regions for greater operational efficiency and logistic ease,” the announcement said.
The MQM senator termed the government step as “unlawful move to denude the economic and commercial hub of Pakistan of its assets”.