Consumer prices (nationwide, excluding perishables) increased at a slightly higher rate during the first half of fiscal 1997. This is because commodity prices declined more slowly as a result of a decelerated influx of low-priced foreign goods. In the second half of fiscal 1997, however, the softening of commodity prices reflecting the decline in domestic wholesale prices dampened the increase.
It is of utmost importance that the industry should aim to provide holistic and appropriate financial services, including deposit, credit, insurance and remittance services. SBP is well aware of the fact that the industry is beset with a number of challenges in the way of achieving this high objective.