KARACHI, July 24(ABC): State Bank of Pakistan (SBP) acting Governor Dr Murtaza Syed said that the comparison of Pakistan with Sri Lanka, and negatively analysis of the economy is not correct.
In the podcast, conducted by the SBP on Saturday discussing the overall economic situation, the SBP governor said there is no doubt that the next 12 months will be very difficult for the global economy. But Pakistan has IMF cover and, Pakistan’s economy is not as weak as people are making it out to be.
Syed added in the podcast that the review with the IMF was very difficult for Pakistan, but now a staff-level agreement has been reached on it, which we are happy about.
Underlining measures taken by the SBP and the government to streamline the economy, he stressed the need to analyse the adjustment of policies.
“In Pakistan’s case, since our growth rate is doing well, we can afford to slow the economy and work is underway [on it],” he added and mentioned the recent interest-rate hike as one of those measures.