Discount rate cut by 1%, Dar reveals ahead of SBP announcement

Dar says judicial commission to probe rigging allegations should be formed without further delay

ISLAMABAD: Even though the State Bank of Pakistan is yet to make an official monetary policy announcement, Finance Minister Ishaq Dar couldn't contain the "good news", telling a press conference on Saturday that the discount rate has been cut by 1% .

Dar also took into account the formation of a judicial commission, as requested by the Pakistan Tehreek-e-Insaf (PTI) to investigate into their rigging allgeations.

"The government is willing to form a judicial commission to probe the rigging allegations," he said.

"The judicial commission will be formed within the ambit of the constitution," Dar said while addressing a press conference in Islamabad on Saturday.

In regard to the formation of the judicial commission, Dar said he had written a letter and sent an email to the PTI, which he will make available to the media.

"The letter contains a new definition of the scope of the work of the proposed judicial commission to probe the rigging allegations," the finance minister said.

"A new draft had been sent to PTI on January 20, as per the suggestions of the party during the latest round of talks," he said.

He said the judicial commission should be formed without delay, and that the remaining points could be sorted.

"It is time to sort out a lot of issues, because a lot of time has already been consumed," the minister said.