TO PREVENT A BANKING CRISES by heavy borrowing of Pak- The News
COMMENTS;
This is for Action Research Forum of public wisdom;
The author is navigating the technical truth between the lines, the fact is for common mnn what its means and what should be do. The public wisdom demands to perceive;
Is Economy on sinking ship?
Is country going to sink like communist empire in early 90s.
Are banks going to refuse to pay to their customers?
Opinion
To prevent a banking crisis
Dr Muhammad Yaqub
Friday, July 27, 2012
From Print Edition
During the first three years of its tenure, the present government borrowed massively from the domestic banking system, and that was mainly responsible for excessive monetary expansion and double-digit inflation in the country. However, the monetary data released by the State Bank of Pakistan on July 18 for FY12 (July-June) make the previous three years look very good. The net government borrowing in FY12 of Rs1, 237 billion was more than twice that in the previous year. The government borrowing from the domestic banking system in FY12 works out to Rs3,390 million every day…
The writer is a former governor of the State Bank of Pakistan.
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