SBP governor says inflation artificial, will recede soon

By: News Desk      Published: 12:14 PM, 21 Oct, 2021
SBP governor says inflation artificial, will recede soon
TV grab.

State Bank of Pakistan Governor Reza Baqir has presented a strange logic saying that the overseas Pakistanis have benefited from the depreciation of the rupee. At the same time, he has termed inflation in Pakistan as artificial heralding it will be controlled soon, reported 24NewsHD TV channel on Thursday.

Talking to a presser in Manchester, the governor said that the inflation in Pakistan was short-term and the government would control it soon. 

He was of the opinion that the devaluation of rupee proved beneficial for the overseas Pakistanis. 

“We will also see how many people got benefitted from the decline in currency’s value,” he added.

He maintained due to increase in the exchange rate, the prices had gone up. People who buy imported things, inflation bites them more, he added.

He touted that talks with International Monetary Fund were heading in the right direction and assured that the details of any deal struck with the global lender would be revealed to public. 

He stated that no such deal would be made with the Fund that would further harm the economic interests of the country. 

Mr Baqir informed that Pakistan had fulfilled almost all conditions put forward by the Financial Action Task Force and the country was making progress in this regard. 

“Pakistan will soon come out of the FATF grey list,” the governor was optimistic.