Govt, SBP following set policy on loans: Shahid Kardar

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Govt, SBP following set policy on loans: Shahid Kardar

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Kardar said that provinces are not being provided funds for salaries of more than six weeks.

14 March,2011 07:06 pm

State Bank of Pakistan Governor Shahid Hafeez Kardar on Monday said that floods and terrorism had increased financial woes of the country, but the government and the SBP were following a set policy on loans.Addressing the media in Lahore, he said that the loan barrier would not cross Rs 1.29 trillion, rather there was a hope that it would be brought to Rs 1.17 trillion, a level achieved in June last year, in line with the International Monitory Funds conditions.Kardar said that the provinces were also not being provided funds for salaries of more than six weeks. He said that economic targets could not be achieved due to floods and terrorism.