SBP raises interest rate to 15% Inflation is likely to be 18 to 20 percent,
next year the growth rate will be between 3 to 4 percent, acting Governor SBP Acting Governor SBP Dr. Murtaza Syed announces new monetary policy. SBP raises interest rates, SBP raises interest rates by 1.25%, while interest rate has been fixed at 15%.
Murtaza Syed says that next year the growth rate will be between 3 to 4 percent, while the rate of inflation is likely to be 18 to 20 percent, Pakistan is going through a difficult phase in terms of inflation.
He said that the situation could have been worse if interest rates had not been raise. Earlier, Finance Minister Muftah Ismail while giving good news to the people said that the prices of ghee, sugar and flour would come down significantly.
, 100 rupees will be cheaper. The prices of some commodities in the country have started falling. While better issues will be settle soon with the IMF. Muftah Ismail said in a press conference that the country has been save from default and the economy has come under control.
International oil prices have reached 100 100 a barrel. The benefits of a reduction in oil prices will be passe on to the people in due course. Asked for sacrifices from rich people in the budget, China has helped us financially in difficult times.
He blamed the PTI government for the power outage. And said that the reason for the power outage was the incompetence of the PTI. I wish the PTI government would act wisely. With the increase in power capacity, load shedding will come down. Muftah Ismail said that coal was coming from Afghanistan, Africa and other countries.
