Monetary policy is set to push Pakistan’s current economic uptick – and to move higher and faster, the central bank says.
This is music to the ears of the Pakistani industry, business and even the government, as the State Bank of Pakistan (SBP) has just announced the monetary policy and discount rate for the next two months.
This strategy will be carried out by maintaining the bench mark discount rate at 5.75 per cent. This is the interest rate at which commercial banks will provide credit to the private sector, with immediate effect.
Despite the current rate of growth of five per cent, inflation staying at around 4.6 per cent and the industrial output going up, “the biggest challenge to the economy is the widening current account deficit”, the International Monetary Fund says in its latest review of Pakistan’s economy, unveiled last week, writes M. Aftab for Khaleej Times.
Pakistan with an area of 881,913 km square is one of the biggest countries in South Asia.
We superimposed Pakistan’s map on countries across the world and these were our findings.
North Korea & South Korea
Saudi Arabia & its neighbors
Thailand & its neighboring areas
The map has been superimposed keeping in mind proportions, area and size of the countries.