Finance Minister Muhammad Aurangzeb Wednesday hinted State Bank of Pakistan (SBP) might further slash interest rate in November’s Monetary Policy. “SBP has cut its benchmark interest rate for three consecutive meetings by 450 basis points to 17.5 per cent from a record 22 per cent. The next meeting on Nov 4 may see the central bank reduce the policy rate, Muhammad Aurangzeb in an interview with Bloomberg in Washington on the sidelines of the IMF meeting. Pakistan’s finance minister said the incumbent government is trying hard to increase shares of taxes in the economy up to 135%. Commenting on the Chinese debt, the minister said Pakistan is getting a promising response from China over its request to lengthen maturities for Belt and Road Initiative loans.
Credit: Independent News Pakistan