Punjab Information Minister Azma Bukhari clarified on Tuesday that the provincial government has not borrowed a single rupee from the State Bank of Pakistan, dismissing recent claims as false and misleading. She emphasized that these reports are based on misunderstanding and a lack of financial knowledge, creating confusion among the public and media.
Azma Bukhari explained that the reported Rs405 billion is not a loan but Punjab’s investment in federal government T-bills. She said the investment is aimed at generating profit and should not be interpreted as borrowing. This demonstrates the province’s strong financial management and surplus status.
The minister highlighted that Punjab is a surplus province with more than Rs1 trillion in its accounts. She stressed that the provincial government does not require loans from any institution, including the State Bank, reflecting fiscal responsibility and careful budget planning.
Furthermore, Azma Bukhari noted that no government institution under Punjab’s administration has taken any loan. She criticized the report for attributing federal government institutions’ activities to the provincial government, emphasizing the importance of accurate reporting in financial matters.
She also reminded the public that under the State Bank of Pakistan Act, no government, federal or provincial, can borrow directly from the State Bank after 2019. This legal framework ensures transparency and restricts unauthorized borrowing.
Finally, the minister warned that journalists spreading false news should acknowledge their errors and avoid reporting irrelevant information. She added that legal action may be taken if such misleading reports continue, underlining the government’s commitment to accountability.