ISLAMABAD:
The International Monetary Fund (IMF) has asked Pakistan to remove the finance secretary from the board of the central bank and also recommended amending another law to take away the federal government's authority to order inspections of commercial banks.
The global lender has further asked Islamabad to immediately fill two vacant positions of deputy governors at the State Bank of Pakistan (SBP).
Sources said the IMF has recommended another amendment to the SBP Act to remove the finance secretary from the board of directors. This would be the second attempt to exclude the federal secretary in the past three years.
The IMF's recommendations, part of the Governance and Corruption Diagnosis Mission report, appear aimed at completely ending federal government oversight, despite