The State Bank of Pakistan (SBP) on Friday issued the annual Financial Stability Review for 2022 and found that financial system performance and resilience remained firm during the year.
The ECP, in the 14-page petition, had asked the apex court to review its decision as the judiciary "doesn't have the authority to give the date of elections."
According to the State Bank of Pakistan Act amended in 2022 on the dictation of the International Monetary Fund (IMF), government borrowing from the central bank is banned.
The Election Commission of Pakistan (ECP) said Tuesday that the conduct of elections on May 14 is becoming impossible owing to the lack of resources and forces to maintain law and order in its answer to the Supreme Court of Pakistan about elections in Punjab, Geo News reported.
The Pakistan Supreme Court last week directed the State Bank of Pakistan (SBP) to "allocate and release" Rs 21 bn by April 17 for elections in two provinces from the Federal Consolidated Fund (FCF) "lying under its control and management".
Pakistan Supreme Court on Friday ordered the State Bank of Pakistan (SBP) to direct funds for holding elections to the Punjab and Khyber Pakhtunkhwa assemblies, Geo News reported.
In its weekly bulletin, the State Bank of Pakistan (SBP) said that its foreign exchange reserves have decreased as of the week ended March 24, which will provide an import cover of less than a month.
Meanwhile, domestic debt rose to PKR 34.3 trillion by January end, 3.4 per cent higher than a month ago and around 25 per cent higher than the year-ago figure.