The Pakistan Peoples Party has asked the State Bank to come out clean on the state of the economy and make public the true picture so that the next government could prudently manage a sustainable economy.
If the SBP fails to come out clean on the facts about the dismal economic situation the future PPP government would file criminal charges of neglect and conspiracy against those responsible, said former federal Minister and Co-ordinator Economic Committee of the Party Syed Naveed Qamar in a statement Saturday.
The State Bank Governor on Thursday announced to make the borrowings costlier for the investors claiming that it was aimed at curbing inflation. The PPP leader said that it was ridiculous to claim that costlier borrowings would not slow down the economic growth.
At a time when the world was moving towards easing borrowings to step up economic growth the SBP's move in the opposite direction showed that the economy was headed towards serious stagnation.
He said that the SBP had admitted that the regime had violated the fiscal responsibility law that sets limit on borrowings but there was no explanation as to how the economy would be managed during the remaining months of the current fiscal after elections.