SBP bill sails through Senate amid govt's opposition

ISLAMABAD (Web Desk) - The Senate on Monday passed by majority vote the State Bank of Pakistan Amendment Bill 2021 for enhancing loan disbursement in smaller provinces.The bill was passed despite opposition by the government. 

The private-member bill that seeks to ensure that the “minimum credit/ lending of the commercial banks to the private sector for establishing industry and commercial activities in the smaller provinces is at par with those provinces’ total deposits in the banks.”

Senate Chairman Sadiq Sanjrani chaired the session in which PTI s Mohsin Aziz placed the bill for passage.

He informed the house that bill was passed by the relevant Senate committee and urged the house to pass the bill.

However, following opposition from treasury, the chair directed to hold voice vote on the bill. As many as 26 votes were found to be in favour of the bill and 20 votes against it that led to the passage of the bill.