State Bank of Pakistan (Amendment)
Bill, 2021 passed to limit bank loans in provinces
The Senate on Monday passed the State Bank of
Pakistan (SBP) (Amendment) Bill, 2021.
The bill will ensure that lending of the
commercial banks to the private sector for establishing industry and commercial
activities in the smaller provinces is equivalent to the provinces’ total
deposits in the banks.
According to the statement of objects and
reasons of the SBP bill, the private sector of Balochistan and Khyber
Pakhtunkhwa had long demanded that banks eliminate improper, unjustified, and
inequitable lending which was impeding industrialization and commercial
activities in those provinces.