State Bank keeps interest rate at 6% for next 2 months
State Bank of Pakistan announced the fiscal policy for the next 2 months, interest rate stable at 6%
KARACHI: (Dunya News) – State Bank of Pakistan (SBP) has on Saturday announced the fiscal policy for the next two months. The interest rate has been kept stable at 6% for the next two months, reported Dunya News.
Address a press conference, SBP Governor Ashraf Wathra said that the private sector has been getting more loans now. He said that inflation rate is expected to remain at 4% this year. Improvement in large industries’ is visible, he said. Ashraf Wathra said that tax returns are improving.
SBP Governor said that the negative impact of the lower production of cotton and rice can be annulled by improved production of wheat and other crops.
Talking about global payments, SBP Governor told that the foreign exchange reserves increased with the loan provided by International Monetary Fund (IMF) while foreign investment is expected to rise due to China-Pakistan Economic Corridor (CPEC).
Wathra added that the tax amnesty scheme to the traders was a matter between the government and Federal Board of Revenue (FBR). He said that SBP would welcome the increase in filers’ numbers.He further added that SBP is considering the situation created after the lifting of sanctions on Iran. He said that the decision on establishing banking links with Iran after reviewing the situation.
