Business groups seek rate cut amid economic concerns
• Call for a cut in next MPC meeting to support industrial recovery • OICCI, PBC term SBP decision ‘balanced, prudent’ KARACHI: The business community on Monday expressed disappointment over the State Bank’s decision to keep the policy rate unchanged at 11.5pc, urging monetary easing to support growth, exports and investment amid easing inflation expectations. Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh said that a static polic
Business leaders in Pakistan expressed disappointment with the State Bank's decision to maintain the policy rate at 11.5%. They argue that keeping rates high hinders economic growth and industrial recovery. The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) highlighted the negative impact of high borrowing costs on businesses and exports. They called for a rate cut to support investment and job creation. Regional competitors have lower borrowing costs, making Pakistani exports less competitive. The FPCCI urged the State Bank to reconsider its approach and lower rates in the next meeting. Business leaders believe a rate cut is essential for economic transition and stability. They emphasized the need for monetary policy to align with industrial and export goals. The Karachi Chamber of Commerce also expressed expectations for a rate reduction.
A rate cut is seen as crucial for supporting economic growth, industrial recovery, and export competitiveness in Pakistan.
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