THE PAKISTAN DEVELOPMENT REVIEW
M. Ashraf Janjua. History of the State Bank of Pakistan (1978-1988). Karachi: State Bank of Pakistan. 2003. 790 pages. Hardback. Price not given.
History of the State Bank of Pakistan (1978-1988) contains the major events relating to the real and financial sectors of the economy as well as a rich analysis of economic development in Pakistan. Although the book’s main focus is the 1977-88 period, it also traces the developments since Independence up to 1972 to put relevant decade in its proper perspective. As such, the book would help in better understanding of the economic reforms that have been undertaken since 1988. It is also an important contribution towards understanding the evolution of economic policies in Pakistan. There are twelve chapters relating to various aspects of growth in the real sectors; monetary policies and credit management; regulatory framework and prudent regulations; supervision of banks; exchange rate management; the State Bank and the government; role of the State Bank in economic development; Islamisation of banks; and management organisation and administration of the State Bank of Pakistan, followed by four appendices, a select bibliography, and an index.