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SBP hikes rate to 12%, says export slump not rate-driven

The State Bank of Pakistan (SBP) on Monday raised its policy rate by 50 basis points to 12 percent, with Governor Jameel Ahmad maintaining that export stagnation was not linked to interest rates, citing concessional financing and performance-based incentives available to exporters. The Monetary Policy Committee (MPC) increased the rate from 11. 5pc to 12pc, with

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