Inflation was 38% in May, June and thereafter inflation will start to decrease, State Bank



Karachi (Urdu Point, Latest Newspaper. June 12, 2023) State Bank has decided to maintain the interest rate at 21 percent. According to the details, the State Bank has announced a new monetary policy, the State Bank has said that there has been no change in the interest rate, the interest rate has remained at 21 percent. Inflation in the country remained at 38% during May, after which inflation has reached the peak point, it is expected that inflation will start to decrease in June and thereafter.

It should be remembered that in recent days, in the in-camera briefing of State Bank of Pakistan officials, the issue of giving loans of 3 billion dollars during the government of Tehreek-e-Insaf was discussed. In the briefing of the Central Bank officials, it was stated that during the Tehreek-e-Insaaf era, loans of 3 billion dollars were given under the loan scheme, these loans were given at an interest rate of 5 percent, while the interest rate in the market at that time was 7 percent.

It should also be noted here that some government leaders had alleged that during the Tehreek-e-Insaf government, 3 billion dollars were given to a few personalities at zero interest rate. The Standing Committee on Finance of the National Assembly asked for a report from the State Bank in this regard, after which the central bank officials gave the figures. While the State Bank has released data on the internal and external debt of the country, according to which the total debt of the country was 43705 billion rupees in April 2022, which increased to 58599 billion rupees in April 2023.

Thus, the federal government took a record loan of 14900 billion rupees in one year, that is, 41 billion rupees were borrowed daily. According to the State Bank, the government borrowed 34 percent of the total national debt in a year, with a record borrowing of Rs 1,476 billion in April 2023 alone.