ISLAMABAD - The Senate Standing Committee on Finance and Revenue has taken notice of shifting of five key departments of State Bank of Pakistan (SBP) from Karachi to Lahore and decided to discuss the issue in the next meeting of the committee.

Chairman of Senate Standing Committee on Finance and Revenue, Senator Saleem Mandviwalla has shown concerns over the decision of shifting of key departments of SBP from Karachi to Lahore. “We will not let this happen. Federal government wants to shift all government entities to Lahore,” he said in a statement issued from his office. He further said that SBP had been working smoothly for the last 70 years in Karachi. “The decision will damage the credibility of SBP, create distances among the employees and will affect the working of State Bank of Pakistan”, he said.

Senator said that federal government is hurting the credibility of strategic institutions just for its political gains.

“Such steps should be avoided and reversed. The government has to stop shifting of key sections of SBP to Lahore immediately,” he demanded.

Mandviwalla also revealed that recently Pakistan Steel Mills in Karachi had given 157 acres of its land to the Punjab government, which was a illegal act as such moves would widen the gulf between the provinces. PPP would protest against the ‘illegal act of federal government’ in and out-side the Parliament, senator added.