Inflation in Pakistan is artificial and will be put under control soon: Baqir

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The current Inflation in Pakistan is artificial and federal and all provincial governments will soon be put under control, said Governor State Bank of Pakistan (SBP) Reza Baqir.

While speaking to media in Manchester, SBP governor Reza Baqir said that the main reason behind the recent hike in prices of commodity products was the rise in exchange rates and added that inflation has affected buyers of imported goods to a greater extent.

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SBP governor further said that it should be kept in mind that the devaluation of rupee has benefited overseas Pakistanis.

While answering a question regarding International Monetary Fund (IMF), Baqir said that negotiations with the International Monetary Fund (IMF) are heading in a positive direction. The government will soon public the deal and no deal will be struck with the IMF that will further damage the country’s economy, he added.

Speaking on the Financial Action Task Force’s action plan, the SBP governor said that Pakistan implemented almost all the FATF’s action plan.

Earlier, Governor State Bank of Pakistan (SBP) Reza Baqir had said that Pakistan’s negotiations with the International Monetary Fund (IMF) are moving forward in a positive direction.

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