SBP Governor targets inflation at 5-7% over next two years

News Image

MG News | July 04, 2023 at 01:20 PM GMT+05:00

0:00

July 04, 2023 (MLN): State Bank of Pakistan Governor Jameel Ahmad on Tuesday emphasized his concerns regarding inflation and outlined a target to bring it down to a range of 5-7% over the next two years.

Speaking at the inauguration ceremony of revealing the new banknote to celebrate 75 years of SBP’s founding, the SBP chief acknowledged the challenges faced by the central bank throughout its existence.

He emphasized the resilience and determination that have guided the institution through difficult times.

Moreover, he proudly highlighted that the foundation stone of the State Bank was laid by Quaid-e-Azam, stressing the historical importance of the event.

The governor further spoke of the expansive reach of the institution, with over 16,000 branches operating nationwide.

He praised the introduction of digital banking facilities, allowing customers to effortlessly open and manage their accounts in their comfort.

He expressed his satisfaction regarding the extensive services offered to overseas Pakistanis, enabling them to access convenient banking solutions.

State Bank’s dedication to financial stability, asserting that the current legislation aligns with international standards, making the SBP’s framework comparable to any central bank in the world, he added.

He underscored the institution’s commitment to enhancing efficiency through automation, placing special attention on technological advancements.

Copyright Mettis Link News

 

Related News

Name Price/Vol %Chg/NChg
KSE100 138,788.46
119.75M
0.09%
122.97
ALLSHR 85,570.11
301.22M
-0.15%
-129.39
KSE30 42,358.39
44.75M
0.01%
5.26
KMI30 193,876.62
40.82M
-0.67%
-1305.42
KMIALLSHR 56,217.88
143.52M
-0.30%
-171.27
BKTi 38,243.13
10.00M
-0.47%
-179.85
OGTi 27,554.34
3.52M
-0.59%
-163.92
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 119,790.00 121,165.00
119,315.00
500.00
0.42%
BRENT CRUDE 69.82 70.30
69.41
0.30
0.43%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
0.95
0.99%
ROTTERDAM COAL MONTHLY 105.00 0.00
0.00
0.20
0.19%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.56 66.98
66.12
0.18
0.27%
SUGAR #11 WORLD 16.83 16.87
16.76
0.09
0.54%

Chart of the Day


Latest News

Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg