SBP keeps main rate unchanged at 5.75pc

KARACHI: State Bank of Pakistan kept its key policy rate unchanged at 5.75 per cent on Saturday, citing steady remittances and low oil prices.

SBP Governor Ashrah Mahmood Wathra also told a news conference that foreign direct investment is projected to increase as work on projects under the $46 billion China Pakistan Economic Corridor (CPEC) gains momentum.

The country's $250bn economy is growing at the fastest pace in eight years, but it has struggled to attract large-scale investment and is counting on planned CPEC roads, a deep-water port and several energy projects for a boost.

Wathra also said he expected the newly consolidated Pakistan Stock Exchange to attract new inflows in the wake of its reclassification from a frontier to an emerging market.

Know more: Pakistan gets MSCI upgrade, shares soar to all-time high.

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Comments (5) Closed

Dr. Salaria, Aamir Ahmad

Jul 30, 2016 04:17pm

What else can they do?

Recommend 0

Ayesha MD

Jul 30, 2016 04:18pm

Growing at the fastest rate but not attracting investment? Where does growth happen for countries like Pakistan unless investment is not there unless its possible cause of remittances from expats in the Gulf?

Recommend 0

zak

Jul 30, 2016 04:47pm

@Ayesha MD A famous chinese goes, ' A journey of a thousand miles, begins with one step'. We are on the road and way beyond first step. As CPEC, IP and TAPC pipeline gets operational, Pakistan potential revenues are $100 billion and imports around $50 billion. Have patience and enjoy the journey. Only governance needs to be incorruptible and competent.

Recommend 0

Abood

Jul 30, 2016 06:18pm

@Dr. Salaria, Aamir Ahmad .you have no idea of economics.yet you love to criticise instead of educating yourself about the topic.life does exist above the level pti sets in your life.

Recommend 0

tariq sheikh

Jul 30, 2016 08:26pm

@Abood we may call it frustration what you and the way you are talking. Are you an economic vizard? if yes then jump on the wagon and contribute your due share in policy making, if not then try to learn.

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