Monday April 11, 2022

Governor SBP Hints Increase In Petroleum Products And Electricity Prices

Islamabad: Governor State Bank Of Pakistan (SBP) Raza Baqir has hinted an increase in petroleum products and electricity prices

In an interview with the English magazine Bloomberg, the Governor SBP said that International Monetary Fund (IMF) was insisting to raise the prices of electricity and petroleum products which could not be followed and now it will be done early.

Raza Baqir said that if facing a political situation then difficult decision has to be taken while he expressed hope that delay will end sooner and we will give a good news.

He said that stock market and rupee have good indicators adding that it is necessary for institutions envisaging economic policy to go with aim of monetary stability together.

He said that for the purpose the SBP has decided to an increase interest rates adding that despite having increase in the interest rate it is expected that economy growth will remain four percent.

The governor SBP said that ministry of finance and the SBP are in touch with the IMF and we will give good news of release of another tranche from the IMF.

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