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ISLAMABAD, Dec 17 (APP):Former President of SAARC Chamber of Commerce and Industry Iftikhar Ali Malik on Tuesday welcomed 200 basis points reduction in monetary policy rate by the State Bank of Pakistan (SBP).
Hailing the decision, he termed it as a timely and positive step toward boosting economic growth, supporting trade and revitalizing Pakistan’s industrial sector, said a news release.
Expressing his gratitude to the SBP, the Special Investment Facilitation Council (SIFC), and the government, he acknowledged their collective efforts in controlling inflation, stabilizing foreign exchange reserves, and improving the overall business climate.
He emphasized that this monetary easing would provide much-needed relief to businesses and industries struggling with high borrowing costs.
“This decision will stimulate investment, reduce the cost of doing business, and create an enabling environment for growth,” said Iftikhar Ali Malik.
“It will boost the confidence of local and foreign investors, drive job creation, and ensure sustainable economic development in Pakistan”.
Highlighting the broader economic impact, he said that this decision would ease financial pressure on manufacturers, exporters and small and medium enterprises (SMEs), enabling them to access cheaper credit and expand operations.
He said it would lead to enhanced production capacity, increased exports, and improved competitiveness of Pakistani products in global markets.
Maintaining price stability and boosting economic activity is the hallmark of a sound economic strategy, he added.
He urged the government to continue adopting business-friendly policies and to provide further support to the industrial sector, which remains the backbone of the economy.
He reiterated his belief that the reduction in interest rates would encourage private sector investment and fast-track Pakistan’s path to economic recovery.
“This harmonious approach will pave the way for Pakistan’s long-term economic revival and prosperity,” he remarked.