Friday, May 27, 2022

Inflation in Pakistan due to rise in exchange rates: SBP governor

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MANCHESTER: Governor State Bank of Pakistan (SBP) Reza Baqir on Thursday has said that Inflation in Pakistan is artificial and will be put under control soon, ARY News reported.

Addressing a press conference in Manchester, SBP governor Reza Baqir said that the prices of commodity products were increased in Pakistan due to the rise in exchange rates and added that buyers of imported goods were affected more by inflation.

He said that it should be kept in mind that the devaluation of rupee has benefited overseas Pakistanis.

On talks with the International Monetary Fund (IMF), he said that negotiations with the fund are heading in a positive direction. “The deal with the IMF will be made public and added that no deal will be struck with the IMF that will further damage the country’s economy.

Read more: TALKS WITH IMF MOVING IN POSITIVE DIRECTION: SBP GOVERNOR

Speaking on the Financial Action Task Force’s action plan, the SBP governor said that Pakistan implemented almost all the FATF’s action plan.

Earlier, Governor State Bank of Pakistan (SBP) Reza Baqir had said that Pakistan’s negotiations with the International Monetary Fund (IMF) are moving forward in a positive direction.

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