Pakistan paying loans on time: Gov SBP

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Governor State Bank Pakistan Yaseen Anwar asking not to spread assumption over the IMF loans has said that Pakistan is paying back the IMF loans as per the schedule.

Speaking at the issuance of proposed reforms for the non-banking financial sector by the SECP, Governor SBP said that if the law & order situation deteriorates in the country that foreign investment would decrease.

He further said that the country's economic system has strong foundations and that's why none of our bank defaulted during global economic crisis. Our currency also hasn't lost as much value as that of Japan and other countries.

SECP's Mohammad Ali said that Pakistan's banking sector could come under pressure in an emergency situation due to heavy dependence on banks. Spread of non-banking financial sector in Pakistan is a vital need of the time so that people could have a choice for investment on sources other than banks.

Issuing the proposed reforms in non-banking financial sector he informed that reducing the annual fee of mutual funds by up to half is being proposed. It is also proposed to lower the minimum amount of investment for forming real estate investment trust while it is also proposed to take measures to widen the distribution network of ESat management companies.

End.