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SBP retains interest rate at 5.75pc for next two months

KARACHI: The State Bank of Pakistan (SBP) while announcing Monetary Policy Statement (MPS) for next two months retained the current 5.75 percent interest rate unchanged.

Announcing monetary policy in Karachi on Saturday, Governor State Bank Ashraf Mahmood Wathra said energy and economic conditions of the country have improved.

The Governor State Bank said that all economic indicators were positive. He said that the energy shortage in the country has decreased and the situation was improving continuously.

He said that the economy face no threat due to raising oil price. Wathra said that due to raise in current account deficit, plants and machinery exports have increased.

He said imports have increased by 1.2 percent, which will boost productivity. He said exports will have to be increased to control the remittances deficit.