Azma Bukhari clarifies Punjab has not borrowed a single rupee from SBP

Punjab Information Minister Azma Bukhari has clarified that Punjab has not borrowed a single rupee from the State Bank of Pakistan, reported 24NewsHD TV channel on Tuesday.

In statement, Azma Bukhari said the news regarding Punjab's debts is based on lies and misunderstanding. 

It is devoid of basic understanding of financial matters that Punjab has borrowed Rs405 billion from the State Bank, Azma Bukhari said.

She said the amount mentioned in the report is actually the Punjab government's investment in the federal government's T-bills and the purpose of which is to earn profit, not to borrow. 

Azma Bukhari said Punjab is a surplus province, which does not need to borrow from anyone. 

The Punjab government has more than Rs1 trillion in its account, Azma Bukhari said.

She said that the institutions mentioned in the report are probably federal government institutions.

No government institution under the administration of Punjab has taken any loan, Azma Bukhari further said.

She said it is also surprising that the writer of the report does not know even this basic thing that after 2019, under the State Bank of Pakistan Act, no government, be it federal or provincial, can borrow directly from the State Bank.

A journalist who reported false and untrue news must express shame on his news and should refrain from reporting irrelevant news, otherwise we have the right to take legal action, Uzma Bukhari warned.