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PESHAWAR, Jun 12 (APP):Former chairman Khyber Pakhtunkhwa Textile Mills AssociationS (KPTMA)and former federal minister, Salim Saifullah Khan welcomed the government’s recent decision to reduce the discount rate by 150 basis points.
In a statement issued here on Thursday, he lauds this strategic move as a significant step towards revitalizing the business sector and stimulating economic growth.
“The reduction in the mark-up is a commendable decision by the government, and it comes at a crucial time for our economy,” stated Mr. Khan. “This reduction will not only ease the financial burden on businesses but also encourage new investments, fostering an environment of growth and innovation.”
While appreciating this positive step, Mr. Khan urged the government to consider additional measures to further bolster economic activity.
“To sustain and amplify the positive impact of reduced interest rates, I strongly suggest that the government also reduce gas and electricity prices,” said Mr. Khan. “Lowering energy costs will reduce the overall operational expenses for businesses, making them more competitive both locally and internationally. This will not only spur industrial activity but also attract foreign investment, driving long-term economic growth.”
Mr. Salim Saifullah Khan reiterated his support for continued collaboration between the government and the business community to achieve shared goals of growth and development.