Islamabad (HRNW) The Senate of Pakistan approved Friday one of the most critical pieces of legislation – the State Bank of Pakistan Amendment Bill – while rejecting all recommendations made by the Opposition.
Sanjrani’s vote proved to be a victory for the government. The bill received 43 votes in favor and 42 against. It was being called a “make-or-break” issue for the revival of the stalled International Monetary Fund bailout program.
The IMF has postponed its sixth meeting to review steps taken by the Pakistani government to implement its demands. The session, which was scheduled for January 28, will now be held on February 2.
The board will release a $1 billion tranche under the Extended Fund Facility if it finds that steps such as the passage of the mini-budget and a bill to grant more autonomy to the State Bank of Pakistan are satisfactory.
Independent candidate Dilawar Khan cast his vote in favor of the government while Leader of the Opposition Senate Yousaf Raza Gillani and seven other senators did not attend the key session.
As the finance minister presented the bill, opposition members chanted slogans and gathered before the chair.
The heated arguments were exchanged between government and opposition members when the vote recount was refuted by the Senate chairperson.
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