Pakistan’s inflation eases as COVID-19 hammers economy – Gulf Today

Pakistan’s inflation eases as COVID-19 hammers economy – Gulf Today

The central bank kept interest rates unchanged at 13.25% in January but, once the coronavirus began battering business and household finances, it slashed rates three times in recent weeks to 9% to help cushion the blow.. The Executive Committee of the National Economic Council (ECNEC) has approved four major projects at a cost of nearly Rs250 billion in a meeting held on Thursday at the Cabinet Block with Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh in the chair.. According to a press statement Thursday, the meeting discussed a proposal for the construction of Lodhran-Multan Section (North Bound 62 kms) of N-5 and construction of 2 flyovers at Railways Crossing at Lodhran Bypass and approved the project at cost of Rs12.434 billion.. Under the project to be completed in 24 months, beside road two flyovers along with three interchanges at Super Chowk and Permit ChowkLodhran and an interchange at Bahawalpur Chowk Multan would be built..