No govt plan to reduce banks liquidity |
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Monday, 16 Jun, 2008 8:21 pm |
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KARACHI : Government has no plan to reduce the liquidity of Banking Sector as it is committed to strengthen the banking sector of the country.
While referring to a news appearing in a daily newspaper of June 15, 2008 suggesting that five banks are near collapse and speculating withdrawal of deposits of government agencies in the banking sector, the spokesman of the Ministry of Finance has clarified that the Government does not intend to take such measure which can adversely affect the banking sector, says a release from State Bank of Pakistan here on Monday.
He emphasized that the Government will not take any decision having impact on the available liquidity of the banking sector. However, the government would like to optimize the returns on government funds and ensure that they are utilized for the purpose for which they are allocated.
The government is very conscious that sufficient liquidity must remain available with banking industry to meet the requirements of private sector and to finance economic activities of the country.
Copyright APP (Associated Press of Pakistan), 2008
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