ISLAMABAD (APP): Minister of State for Production, Khawaja Sheraz Mahmood Tuesday informed National Assembly that State Bank of Pakistan had strictly followed the Monetary Policy in printing currency notes.Responding to a calling attention notice, the minister said, SBP is a sovereign institution and is not under the Finance Ministry. However, it strictly follows its Monetary Policy.Members Muhammad Birjees Tahir, Raja Muhammad Asad Khan, Tariq Fazal Chaudhry, Muhammad Baligh-ur-Rehman and Khalida Mansoor had drawn the attention of the minister towards printing of currency notes by SBP on day to day basis to shoulder the government.Rejecting this claim of the members, Sheraz said, it was not true. There is a laid down procedure for printing currency notes and these are not being printing to shoulder the government. He also contested the claim of the members that printing of currency had resulted in price hike and said, during last three years the government has significantly reduced inflation.“SPI and CPI show that the government has brought down inflation from 20 percent to single digit (nine plus) due to its fiscal policies during last three years,” he added.
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