Overseas Pakistanis benefitted from surge in dollar rate: Governor SBP
Reza Baqir said that talks with the International Monetary Fund (IMF) are going on smoothly.
MANCHESTER (Dunya News) - State Bank of Pakistan governor Reza Baqir has said that Inflation in Pakistan is artificial and will be reduced very soon, Dunya News reported.
This he stated during a press conference in Manchester on Wednesday. Reza Baqir said that the prices of commodity products were increased in Pakistan due the rise in exchange rates and added that buyers of imported goods were affected more by inflation.
Reza Baqir said that talks with the International Monetary Fund (IMF) are going on smoothly. He said that the deal with the IMF will be made public and added that no deal will be struck with the IMF that will further damage the country s economy
Speaking on the Financial Action Task Force’s (FATF) action plan, he said that Pakistan has been taking measures to come out of the Paris-based money laundering watchdog’s grey list.
“Rising dollar rates benefit some people and harm others. Overseas Pakistanis benefit because their family members receive more remittances. We should not forget those who benefit,” the Baqir said.
“In every economic policy, some people benefit while others do not, so it should also be taken into account how many people have benefited.”
He said the “additional money” is being sent to Pakistanis in the country, reiterating that every economic policy of the government proves to be beneficial for some, while not for others.
