SBP: Inflation to remain high for two more years.

The State Bank of Pakistan (SBP) said on Friday that inflation would remain at an elevated level for two more years as a special parliamentary panel questioned the official policy prescription that was fuelling inflation instead of curbing it.

Inflation would come down to the central bank targeted rate of 5-7percent after two years, said SBP Deputy Governor Jameel Ahmad during a meeting of the sub-committee of National Assembly Standing Committee on Finance.

The special panel has been set up under the chairmanship of Pakistan Muslim League-Nawaz's (PML-N) Dr Ayesha Ghaus Pasha with the single objective of recommending measures for controlling inflation. The meeting's proceedings suggested that the central bank's wrong monetary and exchange rate policies and fiscal policies of the federal government were the key reasons behind the double-digit inflation...