Pension Board Chairperson and former Finance Minister Ahmed Inaz has responded to allegations that MMA investing in Pension Fund, and using these funds from the Pension Fund to invest in a government bond is against the law. 

In a post on X, Inaz assured that the Pension Board and management has conducted no activities in contravention of Pension Office related laws, regulations, policies and internal guidelines. He stated that deliberations are always held to decrease effects of the sustainability of the Pension Fund due to the financial policies of each government. 

"As Chairperson of the Pension Board, I believe it is my highest duty to ensure the protection and sustainability of this fund," he wrote. 

While the opposition is claiming that MMA investing in Pension Fund, and using these funds from the Pension Fund to invest in a government bond is akin to printing money, the government maintains that it is not so. 

Finance Ministry previously stated that it is a beneficial transaction where the government sold T-bonds to the Pension Fund, which MMA purchased in the secondary market, and the government issued further T-bonds to the Pension Fund. 

"That is not printing money or monetization. It is a transaction based within the set legal framework and on market standards. MMA engaging within the secondary market is a common resource used around the globe to maintain stability, and manage liquidity within the economy," a senior official of the Finance Ministry said then.