Daily Times

The opposition lawmakers Friday expressed concern over the passage of SBP Amendment Bill 2021 from the Senate, saying the legislation bode ill for the political and national security of Pakistan. In a dissenting note signed by dozens of senators, the lawmakers pointed out lacunae in the bill as well as its ramifications for the issues pertaining to national security. According to senators, the amendments proposed in the bill will “make Pakistan a worst example of modern-day colonialism”.

Not only will the bill have an impact on the China Pakistan Economic Corridor (CPEC) project, this will also put Pakistan’s foreign policy and ties with its neighbours under strain, the lawmakers claimed. They feared the defence budget might be affected as well along with the funding for the nuclear programme, says a news report. “There will be one account for defence expenditure in the SBP, which will be under the scrutiny of the IMF,” the letter said, adding that the US and India will have an “oversight over the defence project through the SBP i.e. IMF-controlled bank”. These amendments will subject Pakistan to “financial colonialism”, they said, adding that finance will also go under the scrutiny of the US.

“The opposition is a union of varied ideologies with the PML-N marred by infighting for leadership within the party, the PPP is rudderless while MaulanaFazalurRehman is a worthless player having no worth in pulling the cart,” Fawad said.

On the prime minister’s visit to the Central Business District (CBD) and the Ravi Urban Development Authority (RUDA), he said the CBD sprawled across Walton Road to the Walton Airport area and it had attracted an investment of over 24 billion rupees so far, adding that it was the first planned commercial project of downtown Lahore comprising high-rise buildings which changed the landscape of the historic Lahore.