Dar’s enthusiasm

It was surprising to see Finance Minister Ishaq Dar announcing a one percent decrease in interest rates. Normally, such announcements are the exclusive domain of the State Bank of Pakistan. According to media reports, the board of directors of the State Bank was still in session, discussing the monetary policy

By our correspondents

January 27, 2015

It was surprising to see Finance Minister Ishaq Dar announcing a one percent decrease in interest rates. Normally, such announcements are the exclusive domain of the State Bank of Pakistan. According to media reports, the board of directors of the State Bank was still in session, discussing the monetary policy when the finance minister released the news on the media.
While announcing the cut in interest rates, the minister also told the people that the State Bank enjoys full autonomy and independence. But the minister’s behaviour is contrary to this fact. The minister owes an explanation to his countrymen over this anomaly.
Ejaz Ahmad Magoon
Lahore