State Bank’s Monetary Policy rejected

KARACHI: Chairman Association of Builders and Developers of Pakistan (ABAD) Arif Yousuf Jeewa, rejecting the Monitory Policy announced by the State Bank of Pakistan, has said if the government will raise further Regulatory Duty (RD) on imported items as hinted by the SBP, a new cyclone of dearness will engulf the country and cost of construction will rise enormously making housing a rare commodity for the general public, says a Press release.
Arif Jeewa said that it is sad that now the State Bank of Pakistan has hinted to increase RD, which will further aggravate condition of construction sector and ultimately general public will suffer the impact of any raise in RD.

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