Partly Facetious: needed control on currency circulation, not interest hike

"The State Bank Governor announced a rise in interest rates as a response to rising inflationary pressures..."
"Is the Honourable Governor aware that the rest of the world is cutting interest rates in response to fears of a recession and that with globalisation the recession will hit every country..."
"I am sure the Governor does read the papers but in Pakistan output is already down, courtesy the economic miracle that is ongoing and that Musharraf says he is committed to continue..."
"Don't be facetious."
"The Governor may also argue that with high inflationary pressures which we all know is a true statement and the continuing influx of aid dollars..."
"Too much money chasing too few goods..."
"Precisely and so she raised interest rates to make borrowing more expensive..."
"Is anyone borrowing at present?"
"I am sure the politicians of the ruling party must be borrowing to run their campaigns and their businesses."
"I thought they still had their hands in the government kitty."
"Don't be facetious."
"Anyway the Governor of the State Bank needs to be told that in spite of all the aid dollars the country has lost billions of dollars through capital flight in recent months, especially after the emergency rule and..."
"So why did the State Bank raise rates at this time when the entire world is going to go into a recession and where Central Bank after Central Bank around the world is lowering rates, not raising it?"
"Maybe with the government borrowing more and more as emergency hits, load shedding, flour and cotton crisis hits..."
"That's deficit financing, highly inflationary policy, and there the government has something to say about the interest rates."
"So now what?"
"I would recommend reduce deficit financing, stop all foreign visits, get rid of more than half of the caretakers who seem to be only taking care of their own election and inflation will be in control. The State Bank on the other hand..."
"The State Bank must just take care of monetary policy, not through interest rate rise, but by controlling the currency in circulation."