The State Bank of Pakistan (SBP) has started a probe to find the reasons for the massive exchange rate manipulation carried out by the country’s top banks that made huge profits in the last three months. It is surprising that when the banks were manipulating the exchange rate, the SBP remained silent. And although the SBP has launched its investigation, we know that it will put a nominal penalty on banks for their wrongdoings.
The finance minister has to deal with banks strictly. Such companies and organizations that have been profiting off of people’s needs should be punished. There has to be a proper mechanism, and a small number of elites should not be allowed to manipulate the markets for their benefits.
Aslam Aziz Khanzada
Hyderabad