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No change expected in interest rate

No change expected in interest rate
SBP will announce benchmark interest rate for next two months today
Earlier, the State Bank of Pakistan (SBP) had cut the benchmark interest rate by an aggressive 625 basis points during March-June 2020 to the current 7%. PHOTO: FILE
KARACHI:
Pakistan’s central bank is scheduled to meet on Friday (Jan 22) to determine the benchmark interest rate for the next two-month amid a situation whereby the second wave of Covid-19 pandemic still poses risk to economic activities.
Moreover, the government has increased power tariff by Rs1.95 per unit to resume the International Monetary Fund’s (IMF) loan programme. It has also passed on hike in international oil prices on to the local consumers. The current account balance, after remaining in surplus for the previous five successive months (Jul-Nov 2020), also turned negative in December 2020. Experts, however, believe inflation is manageable. ....

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Remittances over $2b for 6th month in a row: Imran

Imran Khan thanks overseas Pakistanis for making December yet another record-breaking month
Prime Minister Imran Khan. PHOTO: PID/FILE
Prime Minister Imran Khan on Friday thanked Pakistani diaspora for keeping remittances above $2 billion for sixth consecutive month.
I want to thank our overseas Pakistanis for yet another record-breaking month of remittances in Dec: $2.4 bn, the premier wrote on his official Twitter handle.
He said that first time in Pakistani remittances have been above $2 billion for sixth consecutive months.
Total for 6 months of this fiscal year $14.2 bn - a 24.9% growth over last yr [year], he further wrote on the microblogging site. ....

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Remittances remain above $2b | The Express Tribune

Remittances remain above $2b | The Express Tribune
tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.

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