The State Bank of Pakistan is apparently pursuing a policy which is at variance with that of the P.M . While reacting to the reported transfer of over a billion dollars from Pakistan to Dubai for investments in real estate there.
The PM advised the people in Pakistan to go for investment in real estate in the country as that would fetch very attractive return.
As against PM's advice regarding investments in Pakistan, the State Bank of Pakistan three weeks ago directed the commercial banks in the country not to lend money for purchase of land. Since investments in real estate comprise individuals' own funds and bank borrowings, SBP's directive will, on the one hand drastically reduce the over all investments in real estate and on the other, accelerate the outflow of funds from Pakistan.
Do these two views not betray lack of co-ordination?
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