SBP increases discount rate by 50 basis points
- September 13, 2013, 10:49 pm
- Business News
- 187 Views
KARACHI, Sept 13 (APP): State Bank of Pakistan (SBP) has
increased its discount rate by 50 basis points (0.5%) at 9.5
percent to contain inflation.
This decision was announced by Governor, State Bank of Pakistan
(SBP), Yaseen Anwar while unveiling SBP's Monetary Policy Statement at
a press conference here at SBP Building on Friday.
Referring to seeking of $ 6.6 billion loan from International
Monetary Fund (IMF), the Governor held previous elected government
responsible for it.
"Past government took certain good steps but it deferred to take
difficult monetary decisions to ensure financial discipline. Thus,
we had no option but to resort to IMF," he responded to a query from
media.
He appreciated the present Government's economic/ fiscal policies
and approach and acknowledged that it has started by taking very
aggressive decisions / steps and hoped to continue moving in the right
direction and bring financial discipline in the country.
