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Quaid-e-Azam arriving to inaugurate the State Bank of Pakistan: July 1, 1948

Quaid-e-Azam's last public appearance on 1 July 1948 at the opening of the State Bank of Pakistan

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The State Bank of Pakistan - A symbol of our sovereignty (1st Jul 1948)

Speech on the occasion of the opening of the State Bank of Pakistan on 1st July, 1948. Mr. Governor, Directors of the State Bank, Ladies and Gentlemen The opening of the State Bank of Pakistan symbolises the sovereignty of our State in the financial sphere and I am very glad to be here today to perform the opening ceremony. It was not considered feasible to start a bank of our own simultaneously with the coming into being of Pakistan in August last year. A good deal of preparatory work must precede the inauguration of an institution responsible for such technical and delicate work as note issue and banking. To allow for this preparation, it was provided, under the Pakistan Monetary System and Reserve Bank Order, 1947, that the Reserve Bank of India should continue to be the currency and banking authority in Pakistan till the 30th September, 1948. Later on it was felt that it would be in that best interest of our State if the Reserve Bank of India were relieved of its functions in