SBP governor says bank will implement policies benefitting economy

State Bank of Pakistan (SBP) Governor Dr Reza Baqir on Sunday said that SBP would implement those policies benefiting economy of Pakistan.

Monitory policy adopted by SBP is supporting the economy of Pakistan, he said in an interview with a private television channel.

Commenting on approaching International Monitoring Fund (IMF), he said: “We had to seek support of IMF because of weak economic condition.”

During COVID-19 pandemic, he said the government had to lift loan from IMF amounting to Rs250 billion. Appreciating the steps taken by Pakistan Tehreek-e-Insaf (PTI) government to avert coronavirus pandemic, he said that the SBP and the ruling party had successfully managed to cope the difficulties arisen due to spreading virus that played havoc around the world.

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In reply to a question about policy rate, he said that the banks have implemented the policy rate that stood at 13 per cent. To another question about SBP’s working in future, he said that the banking system as autonomous body would have better results.