KARACHI: Governor State Bank Dr. Baqar Reza has said that the government borrowing from the central bank causes an increase in inflation while the present government will not take any loan from the central bank.
Addressing a presser in Karachi this evening, Governor State Bank of Pakistan Dr. Reza Baqir has said government’s economic team is bringing economic stability in the country.
Dr. Reza Baqir said the economic plan of the government envisages stabilizing the situation which will lead to higher and inclusive growth, passing benefits to middle and lower classes.
The Governor State Bank said our external deficit and fiscal deficit are being addressed according to our economic plan.
He said that to let the value of rupee free, not appropriate for the economy while the external deficit of the country decrease after the devaluation of the rupee adding that it was not at all the good policy to keep the value of rupee on the same level.
The Governor said that external and financial deficits have started to decrease at large extent which brought economic stability in the country adding that he was hopeful for economic future of the country adding that the country economy has a bright future ahead.
He declared an uncertainty the biggest opponent of the country adding that masses of the country deserve to giving them confidence.