The State Bank of Pakistan has announced monetary policy, keeping interest rates at 7% for the next two months.
The SBP's Monetary Policy Committee, after conducting an economic review, decided to keep the interest rate at 7%.
It should be remembered that due to the Corona epidemic, the State Bank of Pakistan has reduced interest rates by 6.25%. The interest rate was 13.25% in March, which has now dropped to 7%.
SBP Governor Raza Baqir, during a press conference on the launch of monetary policy, said that the government's plans have helped the economy.
He said that with the sharp reduction in interest rates, the lenders had to pay interest rates lower than 470 billion rupees. The quantity has been entered.
The governor said that schemes with an interest rate of 5% have been started for startups in which Rs. 120 billion have been allocated.
He said that the increase in foreign exchange reserves was due to remittances and not debt, but the real reason was the current account surplus.
SBP Governor Raza Baqir said talks were underway with the IMF and that it was not necessary to agree on all issues during the talks.
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