Current account Deficit should be tackled with serious concern: SBP Governor

Tariq Bajwa, Governor State Bank of Pakistan while in a meeting with the members of FPCCI said that biggest challenge for the country has been the current account deficit which should be tackled with serious concern.

Tariq Bajwa visited the FPCCI and said the interest rate has been at its lowest mark with inflation rate also scaling at low point.

He said the biggest challenge the country’s economy has been facing is the current account deficit. Several people are of the view that rupee should be depreciated, if adjustment has been made it would have its own consequences.

“We should focus on different sectors specially the SME sector which has multiple problems but the biggest one is to get to get loans, approvals of loans for SME sector has been one of the biggest obstacle”, he pointed.

The country has been deficit of homes since long after passage of time, the demand has been increasing sharply and more homes to build up to meet the requirement of the local commuters, SBP governor said.

Economy has been all about sentiment, Pakistan has been always understating its economy while India has always been overestimating its economy, he said.