Kardar faces task to cool inflation
LAHORE: New State Bank Governor Shahid Kardar faces a formidable task of cooling price inflation, which surged to 13.23 per cent last month from 12.34 per cent in July in the wake of devastating floods.
Analysts expect headline inflation to spike to above 15 per cent in September.
The economy was facing formidable headwinds even before floods hit the country in July due to increasing terrorism, growing energy shortages and declining domestic taxes and foreign capital flows.
“It will be a challenging job for the new governor. Tackling surging inflation will remain his top priority,” Sayem Ali, economist for Standard Chartered Bank, told Dawn.