Hi folks, word has it that the SBP is on its track to become privatized. Now I am not a man of finance, so the ramification of such act escape my comprehension.

I would appreciate if a kind sole here shed some light upon State Bank of Pakistan Act 2014, the consequences of it, who gets the longer end of the stick and who gets the shorter, beneficial for the country or not, and how does IMF come into the equation?

I'd like to quote a statement made in one of the opinions of The Nation, which sounds pretty intense but to form up my own opinion on this statement I need to get down to the brass tacks.

"If the government chooses to show wisdom in this time, it will remember dearly that IMF harms more than it does heal. Massive debts have led developing countries to surrender their economies to international banks that have accumulated revenue thanks to their predatory lending policies sanctioned by private banks. "

Any kind of elaboration would be appreciated.