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KARACHI: Governor Sate Bank of Pakistan (SBP) Dr. Shamshad Akhtar Friday announced a number of monetary measures for improving the liquidity of banking sector and strengthening the value of the currency.

“The banking system in the country is quite resilience and has the capacity to absorb shocks and the depositors do not need to be panic,” she said while addressing a hurriedly called press conference here at State Bank of Pakistan.

“We in the State Bank of Pakistan are working day and night to monitor the market situation and things are improving and the withdrawals are coming back,” she remarked.

Ms Shamshad Akhtar called upon the depositors and the masses not to give heed to rumour mongers and also not to compare the economic situation of Pakistan with the international financial situation.

Governor State Bank of Pakistan said that there has been a quite significant debate on the liquidity issue in the baking system.

She added that this issue has gripped the industry and the public at large and there was also a big debate in the press and in the news channels.

Dr. Shamshad assured the masses that the Central Bank including all her colleagues in the Banking sector are working around the clock to address the issue i.e the economy faces at large, the exchange market or the liquidity market faced.

“We often do not talk about the event but we have day to day strong presence in the market”, he added.

She said that if the SBP does not communicate it does not mean that the Central Bank is not watching the market.

She added that the Central Bank for the last few weeks has been assessing the situation very regularly and has also taken a couple of prudential steps and today the bank has also announced a number of measures to address the banking liquidity problem.

The Governor SBP said that the bank has decided to take a few very critical steps.