The governor of State Bank of Pakistan Dr Reza assured that the trade leaders along with the industry leaders are supporting the economic growth in the country. Lahore Chamber of Commerce and Industry (LCCI) was visited by the governor where he chaired a session. The meeting discussed the aspects that what are the initiatives and efforts are done of the SBP to promote economic growth.
Senior Officials including the Deputy Governor of State Bank of Pakistan, Sima Kamil accompanied Dr Baqir on this meeting. He promptly explained that many steps are taken to mitigate the effects of COVID-19 on Economy by the bank.
The State Bank has reduced the rate of policy from 13.25pc to 7pc, also adding to the context that the central bank also allowed 1-year extension on principal payments. That too including with rescheduling and restructuring of loans.
The Governor elaborated many other measures that were taken by the State Bank, to create the importance of provision of Business-friendly environment.