New SBP policy
Interest rate down from 12 to 10.5 pc
Quantum jump in consumer finance likely
Amanullah KhanKarachi—The State Bank of Pakistan has reduced policy rate by 150bps to that would cut the interest rate from prevailing 12 percent to 10.5 percent which is likely to generate economic activity in all segments of the economy especially the consumer finance in the country. Yaseen Anwar, Governor, State Bank of Pakistan (SBP) announced a cut of 150 basis points in policy rate with effect from August 13, 2012.
President forms body to address Hindus’ grievances
Islamabad—President Asif Zardari has taken serious notice of the reports of feelings of insecurity among Hindu families in Sindh and directed authorities to allay Hindus’ grievances and submit a report to him.
Spokesperson to the President Senator Farhatullah Babar said that President constituted a three member committee of MPs to visit different parts of Sindh to express solidarity with the Hindus on his and Government behalf and to reassure them about their security and well being.
TTP considers current Pakistan rulers as liberals, non-Muslims: Spokesman
South Waziristan Agency—The spokesman for banned Tehreek-e-Taliban Pakistan (TTP) Ehsanullah Ehsan on Friday said that the Awami National Party (ANP) is deceiving itself by offering talks with the Taliban and also criticized the current rulers as liberals and seculars with whom talks of Taliban fighters seems impossible.
Vowing to continue attacks on the Nato supplies, Ehsan while talking to reporters at an undisclosed location in South Waziristan Agency (SWA), former stronghold of TTP’s founder commander (late) Baituallah Mehsud, denied TTP’s connection with the bombing in bazaars and mosques.
Pak-US in dialogue to put ties back on track
Islamabad—Pakistan and United States are discussing several proposals to bring their relationship back on track.
This was stated by Foreign Office Spokesman Moazzam Ahmad Khan while replying to a question at the weekly news briefing in Islamabad on Friday. He, however, said no specific details can be shared at this stage.