Government must take wise economic decisions: SBP

KARACHI: A statement issued by the State Bank of Pakistan says that the total liquid of foreign reserves stood at 17,589.9 million as on February 19, 2011.

In view of the economic perspective, the foreign reserves of Pakistan are good enough to help the trading sector but the growth rate of the economy is disappointing especially as far as large scale industries such as the textile sector is concerned, which indicates negative growth rate trends of 9.6 percent as compared to last year.

While the government claims to better its achievements in the industrial sectors the  economic indicators have not improved so far.

The government should take wise economic decisions to utilize the huge reserves for economic growth instead of increasing the supply of money leading to rocketing inflation as the supply side of the economy shows a downward trend.

                                                Monitoring Desk, 2011