January 09, 2025
Karachi: State Bank Governor Jamil Ahmed has claimed that there has been no increase in foreign debt in the last two and a half years.
The Governor of the State Bank visited the FPCCI in Karachi and addressed the industrialists after meeting them.
The Governor of the State Bank said that other issues, including high interest rates, have been resolved, there are now no obstacles to imports, the current account situation is stable, remittances will be close to $3 billion in December, while at least $35 billion in remittances will come in this fiscal year.
Jamil Ahmed said that in May 2023, the rate of increase in food prices had reached 47 percent, the inflation rate may increase between April and June 2025, the country's exports are lower than our expectations, the business community should work more for exports.
He said that there has been no increase in foreign debt in two and a half years, the entire debt of $8 billion was repaid in a short period of time, and that if external accounts are controlled, there will be progress.
The Governor of the State Bank said that in 2024, foreign investors were allowed to take out $2.2 billion, they are facilitating the provision of funds for SMEs, now small business owners will be able to borrow Rs 10 million without collateral, and the government will pay 20 percent of the loss on small business loans.
Jamil Ahmed said that the government will cover 20 percent of the loss on small business loans, while export-oriented small businesses will be given priority for loans
Addressing the ceremony, the President of FPCCI said that there are problems in trade with Iran and Afghanistan, and the interest rate should be immediately reduced to 9%.
