Summary Decreasing the interest rate will help economy and growth rate: Deputy Governor State Bank Riazuddin
ISLAMABAD (Dunya News) – State Bank of Pakistan announced its new monitory policy on Saturday. Governor State Bank Dr. Ashraf Wathra announced the policy in the meeting of Monitory Policy Board in Islamabad. State bank has decreased the interest rate to by 1% which is the lowest level in 42 years. The new interest rate is 7%. New interest rate will be implemented from 25 May.
Deputy Governor State Bank Riazuddin said that decreasing the interest rate will help economy and growth rate. He said that this will provide more chances of loans for private sector which will help industrial development.
