KARACHI:
A meeting of the Monetary Policy Committee of the State Bank of Pakistan (SBP) is scheduled for Tuesday, December 12th. This presents an opportunity to propose measures aimed at addressing the challenges faced by Pakistan’s declining economy. The current inflation rate stands at 29.60%, a significant rise from the previous year’s estimate of 13%.
Following the recent crackdown on the black market, the rupee has strengthened to 284 against the dollar. It is imperative for policymakers to formulate an effective strategy to alleviate the strain on the struggling economy and provide relief to the people of Pakistan who have endured challenging conditions throughout the year. As we approach the next year, we remain cautiously hopeful that the collective efforts of our leaders and citizens will lead to economic advancement for our country.
Subbuh Rashid
Karachi
Published in The Express Tribune, December 10th, 2023.
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