Apropos an editorial titled "no big gains" carried by Business Recorder on Friday, on the bill passed by the National Assembly, I found it to be both professional and comprehensive.
Based on what happens to the laws in Pakistan, I have changed my views on the autonomy of the SBP considerably. Laws make enabling provisions but cannot implement themselves. So the laws are as good as their implementation and as strong as the person sitting in the seat of power for implementation of those laws.
The government will make sure that the governors it appoints do what they dictate to them and not what the Act says. So it really does not matter what is in the Act itself so far as we continue to be a nation that is not law abiding, and institutions are not headed by persons having strength of character and professional competence and pride.
Comments
Comments are closed.