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).
![State Bank of Pakistan announces public holiday on independence day, August 14 2 Image of notification](https://islamabad51.com/wp-content/uploads/2024/08/state-bank-holiday-14-august-notification-300x102.webp)
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.