Stories from Salman Siddiqui
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SBP leaves interest rate on hold
Central bank signals rate will remain unchanged at 7% in next monetary policy as well
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Govt raises profit rates on saving certificates
Move aimed at attracting higher investments in government papers
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No change expected in interest rate
SBP will announce benchmark interest rate for next two months today
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Current account turns from surplus to deficit
Deficit comes on back of surge in imports to over $5b in December 2020
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FDI falls 61% to $193.6m in December 2020
In first half of FY21, China was largest investor with injection of $358.9m
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SBP – a pillar of support for business
Central bank responded aggressively to challenges, shielded economy through timely measures
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Chronic energy crisis persists
Report says oil and gas production fell 6% and 4% respectively in Oct-Dec period
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Food inflation continues to persist
Prices of wheat flour, cooking oil and sugar went sky-high
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Moody’s sees 1.5% GDP growth
Notes rebound in economic activities in Pakistan despite successive Covid waves
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Industrialists blame govt for gas crisis
Say despite capacity it did not increase fuel imports to bridge shortfall