The State Bank of Pakistan (SBP) announced on Monday that it had decided to cut its key policy rate by 250 basis points (bps) to 15 per cent from 17.5pc amid demands for a major rate cut. “At its meeting today, the Monetary Policy Committee (MPC) decided to cut the policy rate by 250 basis points to 15 per cent, effective from November 5, 2024,” the SPB said in a statement, adding that the Comm
Businessmen on Monday appeared unsatisfied with the 250 basis points cut in interest rate by the State Bank of Pakistan (SBP), terming the move not in line with receding inflation and urged the policy rate either should have been lowered by 500-700bps or be brought down to a single digit. In contrast, representative bodies of foreign multinational companies offer a moderate view. For example, t
Businessmen on Monday appeared unsatisfied with the 250 basis points cut in interest rate by the State Bank of Pakistan (SBP), terming the move not in line with receding inflation and urged the policy rate either should have been lowered by 500-700bps or be brought down to a single digit. In contrast, representative bodies of foreign multinational companies offer a moderate view. For example, t
Domestic cement sales continued to face a downward trend owing to slowdown in construction activities, with dispatches during October and the July-October period shrinking by 0.49 per cent and 15pc, respectively, compared to the same period last year. According to data released by the All Pakistan Cement Manufacturers Association (APCMA), cement dispatches last month were 3.276 million tonne
The export of services recorded a growth of 5.77 per cent to $1.91 billion in the first quarter of the current fiscal year (July-September) against $1.80bn over the corresponding months last year, the Pakistan Bureau of Statistics said on Monday. The export of services turned into positive in September following two consecutive months of decline. The growth was mainly driven by a surge in infor