Monetary Policy Statement - SBP
Monday, February 2, 2009
Some of the salient features of Monetary Policy are as follows; - The SBP has decided to keep the policy discount rate unchanged at 15 percent.
- Prior announcement of the auction calendar for Treasury Bills (T-bills) and Pakistan Investment Bonds (PIBs) and a volume based approach to determine the auction result.
- Ministry of Finance will henceforth be responsible for deciding the cut off yields of the primary auctions of T-bills and PIBs on the above premise.
- SBP will continue to manage the operational aspect of the auctions and there will be no change in the process as far as the market is concerned.
- To introduce limits on the direct government borrowings from the SBP and along with a plan to eliminate the same in a phased manner over next several years.
- To facilitate the banks in providing finance to the exporters and support the industry SBP has decided to further enhance banks’ limits both under EFS and LTFF Schemes by Rs35 billion.
- In order to support long term investment in new plant & machinery, the limits under LTFF have also been enhanced by Rs. 10 billion from Rs9.5 billion to Rs19.5 billion.
- In addition it has been decided that the SBP will issue Monetary Policy Statement (MPS) on quarterly basis. This is a significant step in current fast evolving economic environment and will enhance the effectiveness of monetary policy transmission.
- The MPS for the next quarter will be issued by the end of April 2009
To view complete Monetary Policy please click here!
Labels: Economy and Business, Pakistan Economy
posted @ 10:45 AM,
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