Pakistan Peoples Party leader resigns as Senate opposition leader
Jan 31, 2022
Islamabad [Pakistan], January 31 : Pakistan Peoples Party (PPP) leader Yousuf Raza Gilani resigned from the post of leader of opposition in the Senate on Monday.
PPP leader today announced his resignation from his post in the Senate during a speech in the upper house of parliament in Islamabad, the Dawn newspaper reported.
Gilani was among the opposition senators who had skipped last Friday's Senate session, which allowed the ruling Pakistan Tehreek-e-Insaf government to narrowly manage to get the crucial State Bank of Pakistan (Amendment) Bill passed from the opposition-controlled house.
In an indirect reference to his absence from Friday's session, Gilani said "some turncoats" were accusing him of helping the government, the Dawn reported further.
"I am not astonished by the harsh words from my opponents, but I am astonished by the silence of my well-wishers," the publication quoting him saying.
The Senate on Friday passed the State Bank of Pakistan (SBP), Amendment Bill, with the majority vote.
The bill was presented by Finance Minister Shaukat Tarin amid ruckus in the house by the opposition members. The SBP Amendment Bill was supported by 44 senators, while 43 voted against it.
The passage of the bill is one of the conditions set by the International Monetary Fund (IMF) for the release of USD 1 billion to the country, Dawn reported.
It further reported that opposition parties have been voicing strong concerns over the SBP bill, saying it compromises Pakistan's "economic sovereignty and gives absolute authority to the SBP to take key economic decisions independently".
The SBP Amendment Bill, 2021, promises complete autonomy to the central bank and places a complete restriction on the government's borrowing from the central bank. However, the government now can borrow at a market rate from commercial banks, which will benefit private banks owned by business elites, according to the opposition, Dawn reported.
