State Bank of Pakistan (SBP) Governor Reza Baqir at a conference on business leaders Wednesday commented that Pakistan will have to make difficult decisions in future due to the International Monetary Fund (IMF) programme.
SBP received $2.75 billion from the IMF as part of the Special Drawing Rights (SDR) allocation. SBP believes that this would help the economy.
The Pakistan government made the disbursement of financial assistance during the coronavirus pandemic by giving loans worth Rs2 trillion to business persons, Rs430 billion for new investment and Rs240 billion were allocated for loans on easy conditions.
Baqir mentioned that the growth rate has increased to 4 per cent with the rise in the income of people. Moreover, he highlighted that foreign remittances also increased by 27pc during the last fiscal year.