Belated transfer of CB back to Finance Ministry is welcome, but some more follies to be rectified
CB and state banks taken away from Finance Ministry
Monday, 2 April 2018 00:00
A confusing folly committed by the new government in January 2015 happened to be the listing of the Central Bank and other financial institutions away from the Ministry of Finance.
This was going against the tradition and also against the legal order. Thus, the Central Bank and related institutions were listed under the new Ministry of Policy Planning and Economic Affairs which functioned under the Prime Minister. Similarly, the state banks whose ownership is legally vested with the Secretary to the Treasury were listed under the Ministry of Public Enterprise Reforms.
