State Bank of Pakistan big decision, reduced interest rates by 2%

state bank of pakistan

State Bank of Pakistan slashes interest rate by 2%

state bank of pakistan

According to details, on January 28 this year, the Governor of the State Bank of Pakistan, Baqir Raza, announced a rate hike of 13.25 percent, after which investors appealed to the government to reduce interest rates.

Meanwhile, the SBP had announced a 0.75 percent reduction in interest rates on March 17 when the nation’s economy suffered due to the Coronavirus. After that, the interest rate was 12.50%.

Exactly one week later, the SBP once again reduced interest rates by 1.5 percent, and on March 24, the interest rate reached 11 percent.

State Bank of Pakistan has announced a monetary policy, reducing interest rates once again in less than a month by two percent, after which it has dropped to single-digit 9 percent.

It should be noted that political and business leaders, including President of PML-N, Mian Muhammad Shahbaz Sharif, and Pakistan People’s Party Chairman Bilawal Bhutto Zardari, have often been appealing to the government to reduce interest rates so that there is more business running.


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DJ Kamal Mustafa

DJ Kamal Mustafa

About Author

DJ Kamal Mustafa is a Music Producer, DJ, Pakistani Filmmaker, and Journalist. Has Made six Animated Films and Released 18 Music Albums for Pakistani and Bollywood Celebrities. The latest animated film on Cyber Awareness has been released by DJ Kamal Mustafa, a project for NR3C.GOV.PK (National Response Center For Cyber Crime) FIA Cyber Crime Wing. I have been featured in The News, Geo News, Dunya News, Gulf News, Global Village Space, and in many newspapers and news blogs. I am writing for Pakistan Today, Times of India, Capital TV, Daily Times, and other news outlets.

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