Progress on the Privatization of the SME Bank reviewed

Progress on the Privatization of the SME Bank reviewed during a meeting in Islamabad on Thursday.

Minister for Finance and Revenue Shaukat Tarin chaired the meeting.

Progress on the Privatization of the SME Bank reviewed

The meeting got a briefing. Briefers shared completion of the pre-bidding process.

They also shared the shortlisting of the interested parties.

Meanwhile, Minister for Privatization Muhammad Mian Soomro apprised the meeting that they constantly stay in touch with the potential investors.

Furthermore, he said that they will keep updating the Finance Ministry, SBP and all the other relevant stakeholders of the new developments.

The Finance Minister affirmed his support for the Privatization Commission for the successful completion of the transaction.

Meanwhile, Finance Ministry said the inflation scenario has significantly improved.

In a statement, it cited inflation recorded at 10.9 percent during last month compared to 11.2 a month earlier.

Inflation comes down

Furthermore, the Ministry noted this indicator as a clear sign of ease in inflationary pressures.

It said the average inflation for 11 months (July-May) has come down to 8.8 percent compared to double-digit inflation of 10.9 percent.

The Ministry said it is also important to underline that the food inflation has also started to decline both in urban and rural areas.

Moreover, the SPI inflation has also declined by 0.63 percent compared to a week earlier.

The statement said prices of essential commodities such as tomatoes, potatoes, ghee etc. have either witnessed decrease for the past 6 weeks or have remained stable.

However, the most notable reduction is seen in the prices of chicken and eggs.