SBP to issue monetary policy on July 20

KARACHI (June 25 2004): State Bank will issue a statement next month to outline its monetary policy for the first half of fiscal year 2004/05 (July-June), a spokesman said on Thursday.

“The board (of directors) of the bank will meet in Lahore on July 20 to approve the monetary policy,” Syed Wasimuddin, chief spokesman of the State Bank of Pakistan, told Reuters.

He said the bank would release the monetary statement as soon as it is approved by the board.

The government has set a gross domestic product growth target of 6.6 percent for the next fiscal year, which starts on July 1. It said the economy grew by 6.4 percent in 2003/04.

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