State Bank Governor Jamil Ahmed, while holding a press conference, said that after looking at all economic indicators, the decision was made to maintain the interest rate at 11%.

He said that the inflation rate was the lowest in April, there was some increase in the inflation rate in May and June, and inflation will increase somewhat in the future due to the base effect and energy prices, while the current inflation rate in the country is 7.2 percent.

Also Read: SBP should reduce interest rate to 6% in upcoming monetary policy: SM Tanveer

The Governor of the State Bank said that exports increased by 4%, workers  remittances increased by $8 billion, and the current account remained in surplus due to workers  remittances.

Governor Jamil Ahmed said that increasing exports is necessary for current account control. This year, remittances exceeded $38 billion, compared to $30 billion last fiscal year.