Geo 436 KARACHI: State Bank of Pakistan (SBP) will announce the second monetary policy of the current fiscal year, Geo News reported Wednesday. The expert think the markup rate may be significantly raised in view of flooding situation in the country and the government's uncertain monetary policy. The Board of Directors of the central bank will meet in Karachi for the monetary policy in the next two months. This is the first policy under present SBP Governor Shahid Kardar. The economists said the government borrowed at least Rs216 billion from July 1 to September 9 for flood-related expenditures. The economic experts said the central bank may raise 50 to 100 basis points on the interest rate owing to slump in economic growth and government's indiscreet monetary policy. It should be mentioned here that Shahid Kardar had been a great critic of the Monetary Policy before his coming into the office.
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