RAWALPINDI, Jul 29 (APP):Rawalpindi Chamber of Commerce and Industry (RCCI) has welcomed the reduction in interest rate by the State Bank of Pakistan.
In a statement issued here today, the Acting President of RCCI Muhammad Hamza Sarosh has lauded State Bank of Pakistan (SBP) for its decision to reduce the interest rate from 20.5% to 19.5%.
He said that the reduction in interest rates will increase business activities. However, he noted that interest rates were still high as compared to the neighboring countries in the region, and underlined the need to further reduction in it.
Hamza further said that the decline in the interest rate was a positive indicator for the national economy.
