LAHORE: Punjab Minister for Information and Culture, Azma Bokhari, has strongly refuted the media reports alleging that the Punjab government borrowed funds from the State Bank of Pakistan (SBP).
She declared such claims as baseless, misleading, and rooted in a complete misunderstanding of financial facts. She clarified that Punjab has not taken a single rupee in loans from the State Bank. The amount mentioned in the media report actually refers to Punjab’s investment in Federal Government T-Bills—a strategy solely intended to generate profit, not acquire debt, she added.
Azma emphasized that Punjab is a surplus province, currently holding over one trillion rupees in its government account. “We do not need to take any loans,” she asserted.
Expressing surprise, Bokhari pointed out that the journalist seemed unaware of a key amendment made to the State Bank of Pakistan Act in 2019, which bars both federal and provincial governments from directly borrowing from the central bank. She further noted that any institutions mentioned in the report likely fall under federal jurisdiction, not Punjab’s. “No institution under the administrative control of the Punjab government has taken any loan,” she said.
Azma condemned such baseless and factually incorrect reporting, calling it violation of journalistic ethics. She said those responsible for spreading misinformation should feel ashamed of their ignorance. She warned that if this trend of false and misleading journalism continues, the government reserves the right to pursue legal action.
Copyright Business Recorder, 2025