I WAS surprised at the prime minister’s TV interview (Dec 3) showing his ignorance of the State Bank Pakistan’s recent decision to devalue the currency. He says he learnt about the matter through the media. It is true that the SBP is autonomous but there must be a standard operating procedure of devaluing the currency which must include coordination between SBP and the finance ministry.

It is hard to believe the SBP did not coordinate with the finance ministry before the rupee devaluation. And if the SBP did coordinate with finance ministry on rupee devaluation, it is unbelievable that the finance minister did not inform the premier on this important matter.

Authorities should take step to know why the prime minister was not informed in advance about the rupee devaluation and ensure coordination between the PM’s office and the SBP.

Ejaz Ahmad Magoon (FCA)
Lahore

Published in Dawn, December 10th, 2018