ISLAMABAD: The State Bank of Pakistan (SBP) has announced a public holiday on August 14, 2024, to mark Independence Day.
As per the notification issued by State Bank, all financial institutions and banks will remain closed on August 14 (Wednesday).
On the other hand, State Bank Governor Jameel Ahmed has said that the next financial year will bring the rate of inflation up to 5 to 7 percent.
The meeting of the National Assembly’s Standing Committee on Finance was chaired by Syed Naveed Qamar, during which State Bank Governor Jameel Ahmed gave a briefing, while the members of the Standing Committee expressed their reservations about keeping the policy rate at 19.5 percent.
While giving a briefing to the Standing Committee on Finance, the Governor of the State Bank said that all restrictions on imports have been lifted. Pakistan has to repay a total of $26.2 billion of debt this fiscal year, of which $12.3 billion will be rolled over, and $4 billion of commercial debt will be refinanced after payment.
Jameel Ahmed said that, in this way, Pakistan has to pay a net debt of $10 billion this year, out of which $1.4 billion has been paid and the remaining $8.6 billion remains.
