ISLAMABAD (NNI): The IWCCI on Sunday asked the State Bank of Pakistan (SBP) to present true picture of the economy and refrain from issuing political statements. “The SBP governor’s statement on the country’s debt-servicing capacity, remittances and exports are questionable,” said IWCCI Standing Committee on Trade and Industry Chairperson Tabassum Anwar. She said that confidence in the central bank was essential for the smooth functioning of the financial system; therefore job of issuing rosy statements should be left to the politicians. Referring to the bank governor’s observation that fall in remittances was temporary, Tabassum said this was contrary to the ground realities as Brexit and the situation in oil-rich kingdoms, the main sources of remittances, were not going to change anytime soon. “The central bank has reassured that exports will pick up as refunds payments have begun and energy as well as the law and order situation has improved, which is over optimistic as assurance will not change the ground realities,” she opined.

She further said that all the sectors that boost reserves, including exports, remittances and investments, were going downhill; therefore, the claim of strong debt repayment capacity is amazing.

 

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