Inflation, interest rate to witness decline in coming months: Reza Baqir

KARACHI: State Bank of Pakistan (SBP) Governor Reza Baqir on Thursday said that the country would witness a decline in inflation from the upcoming months, ARY NEWS reported.

“With a decline in inflation, its affects on the market will also be witnessed in the days to come,” he said while addressing the CEO Summit in the city.

The SBP governor said that interest rate would also reciprocate with declining inflation and would also go down in the coming days.

“We are hoping for an improvement in the situation ahead as the situation has witnessed a turnaround from the past,” he said and added that currently the foreign reserves are witnessing a surge along with the stability in the rupee value.

Reza Baqir said that now no one could predict an increase in dollar rate. “Our current account deficit and financial debts have also witnessed a decline,” he said and added that the number of challenges faced by the economy have decreased.

He further said that with the current improving situation, no one could say that the country is going towards default.

On February 12, Prime Minister Imran Khan said that the government is striving hard to provide maximum relief to masses despite the difficult situation.

Talking to a delegation of ticket holders of Pakistan Tehreek-e-Insaf from Gujranwala that called on him in Islamabad, PM Imran expressed hope that the government’s measures will bear fruit soon.

Read More: PM Imran approves relief package worth Rs15 bn to address inflation: sources 

He said that organized mafia is creating obstacles in the path of progress and the schemes pertaining to provide relief to the people.

The prime minister maintained that the people are fed up with corruption and mafia and look towards PTI as their rescuer.