State Bank of Pakistan announcing monetary policy for next two months maintained the rate of interest at 5.75 saying decline in oil prices and increase in remittances made the market strong.
The announcement made by the Governor SBP Asharf Mehmood Wathra saying that improvement being witnessed in country’s economy in current year as the positive policies helped to overcome inflation and increase in foreign exchange reserve.
” improved law and order situation leaving positive effects on economy along with investment in projects of CPEC and PSDP while decline in oil prices and increase in remittance have turned the market in strong position, ” he added that the increase in tax collection and foreign exchange might increase the GDP growth rate.
