Rupee strong enough, says Governor SBP

ISLAMABAD—Governor State Bank Dr Shamshad Akhtar has said that Pakistan will not go for depreciating the rupee by 10 % in wake of demands made by International Monetary Fund because our rupee is even strong today. However government will have to take immediate steps to control and stabilize price hike in food commodities.
She observed this while giving a briefing to the National Assembly Standing Committee on Finance here on Wednesday. During the meeting reports regarding fiscal year 2005-06 were presented. The State Bank Governor said government has introduced several steps to make the monitoring policy more stringent, which has eventually improved the overall economic situation. The progress in manufacturing, livestock and services sectors has been encouraging and very good while the progress in agricultural sector had been on decline.
She made it clear that government will have to take immediate steps for controlling price hike in eatables. She mentioned the Consumers Price Index was on its peak in March 2005 but gradually it dropped down.—Agencies