State Bank of Pakistan announces new monetary policy
The interest rate will remain at 9.75%, the government's relief package has improved the rate of inflation. SBP Monetary Policy Committee Meeting
The State Bank of Pakistan has announced a new monetary policy, the interest rate will remain at 9.75%, the government's relief package has improved the rate of inflation.
According to details, a meeting of the Monetary Policy Committee was held under the chairmanship of Governor SBP Raza Baqir. In the meeting, the Monetary Policy Committee has decided to maintain the policy rate at 9.75%.
The relief package announced by the government last week has improved the inflation scenario. The Monetary Policy Committee noted that the current real interest rates should be forward-looking.
However, the Russia-Ukraine conflict has made global commodity prices and global financial conditions very uncertain.
As the situation in Russia and Ukraine is fluid, the Monetary Policy Committee said it was ready to meet if necessary before the next meeting in late April to take timely and prudent steps to protect external and price stability. Can be picked up
On the other hand, the federal government has announced to provide full relief to the people during the month of Ramadan.
''Interest-free loans will be provided to low-income immigrants.'' Under which 10 thousand 180 people will be provided loan up to 3 lakh. Similarly, according to the announcement of the Prime Minister, relief of Rs. 5 per unit has been approved in electricity tariffs.
This relief package will be given for 4 months from March to June 2022. Under the relief package, Rs 136 billion will be provided to the people. Furthermore, Punjab Chief Minister Sardar Usman Bazdar has directed to propose effective measures to provide complete relief to the people during the month of Ramadan and has issued instructions to the Cabinet Committee on Price Control in this regard.
Chief Minister Usman Bazdar said that the government would give billions of rupees Ramadan package this time as in previous years and would give real relief to the common man through Ramadan package.