No time to waste

The State Bank of Pakistan has increased the interest rate to 8.75 percent which is a big increment of 150 basis points. One fears that the current situation of the economy might lead to more increase in the interest rate in the near future.

With inflation rates already over nine percent, are we heading towards an economic crisis in the coming months? Even Turkey, a country economically stronger than Pakistan, is facing difficult times. The Turkish Lira has plunged by 42 percent within a year. As a result, people are demanding the president’s resignation. Our government must take measures to tackle the economic problems people are facing.

Mumraiz Khan

Karachi