KARACHI: June 10,2023: The Monetary Policy Committee of SBP will meet on Monday, June 12, 2023 at SBP Karachi to decide about the Monetary Policy. Later on, SBP will issue the Monetary Policy Statement through a press release on the same day.
SBP’s policy to jack up the policy rate at 21 % has devastated Pakistan’s economy. The businesses and industrial sector are wailing over all time high interest rate but SBP is continuing with its policy of dealing with rising inflation. Inflation has gone up alarmingly in Pakistan but SBP still believes its increasing interest rate to tame inflation.
Its right time for Finance minister, Ishaq Dar, to oversee who is real beneficiary of SBP’s policy of unrealistic interest rate. Ishaq Dar should also check if SBP is operating for benefiting the banking mafia through highest ever interest rate. He also take out some time to ponder if any business is possible with the banks loan when the policy rate is 21 %?.
