Kenyan tea is still held at the Karachi port even after Islamabad gave a directive to allow banks to give traders a letter of credit (LC) to free the commodity five days ago.
By the end of June 2023, Pakistan`s interest-to-revenue ratio, which was the worst in the region (just behind Sri Lanka) at 42 per cent, will balloon up to 54 per cent.
The central bank raised the benchmark interest rate by 300 bps, taking the total increase to 1,050 bps since January 2022 to counter rising inflation. Get more World News and Business News on Zee Business.
The SBP s MPC expects inflation to rise further in the next few months as the impact of these adjustments unfolds before it begins to fall, albeit at a gradual pace.