KARACHI: State Bank of Pakistan (SBP) to conduct business confidence survey and will take feedback from leading corporate entities about current and future prospects of economy.
In a statement issued on Sunday, the SBP said that it regulates the monetary and credit system of Pakistan and fosters its growth in the best national interest with a view to securing monetary stability and fuller utilization of the country’s productive resources.
Like many other central banks, it weighs up the public and firms perceptions about prevailing and expected economic condition, as an important part of its monetary policy formulation process.
For this purpose, SBP is already conducting telephonic surveys of households (Consumer Confidence Survey-CCS) that are selected randomly across the country. These surveys are conducted after every two months and provide information on “what people are thinking” about the economy.
Continuing with the spirit of seeking input from its main stakeholders, State Bank of Pakistan is now planning to obtain opinion of firms about current and expected business conditions in the country.
The Business Confidence Survey (BCS) will be a telephonic survey lasting between 7 to 10 minutes with a senior executive of participating firms requiring them to answer some quick questions.
This survey will be conducted all over the country in October 2017 and will be repeated periodically. All the information collected through the survey will be treated as strictly confidential and will not be shared with any other person or entity. Furthermore, it will not be used for any purpose other than research on economic conditions.
The SBP is conducting this survey with the collaboration of Institute of Business Administration, Karachi.
SBP encourages all firms operating in different areas and sectors to participate in this survey in the best national interest.
