Government to tighten noose on forex market riggers: SBPSEXI News chief

Karachi: State Bank of Pakistan (SBP) Governor Jameel Ahmed said on Saturday that market sentiment had improved significantly due to the strengthening rupee.

He made the remarks during a meeting with Senator Muhammad Ishaq Dar, Federal Minister of Finance and Revenue at the Ministry of Finance.

The central bank said in its press release that the meeting discussed the measures taken for the stabilization and development of the country’s economy.

SBP Governor Jameel Ahmed congratulated the Finance Minister on taking office and said that with the arrival of the Finance Minister, market sentiments have improved significantly as evidenced by the appreciation of the Rupee.

He was of the view that the continued efforts of the government and the bank would put additional pressure on the FX market manipulators.

The Head of SBP briefed the Minister on various macroeconomic policy initiatives in line with the fiscal policy objectives undertaken to achieve sustainable development.

He said that the SBP is fully committed to supporting the economic recovery process in line with the policies of the current government and assured the Minister of Finance of its full support.

Speaking on the occasion, Ishaq Dar hailed SBP’s initiative to introduce digital banking in line with international best practices and Pakistan’s first instant payment system – Raast.

He also appreciated the role of the State Bank of Pakistan in monetary stability and economic development of the country.

Remarks

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