- Advertisement -
ISLAMABAD, Jul 30 (APP): Usman Shaukat, President of the Rawalpindi Chamber of Commerce and Industry (RCCI), has called on the State Bank of Pakistan (SBP) to slash the policy rate to single digits in the upcoming Monetary Policy Committee (MPC) meeting.
The RCCI reiterated its call for urgent monetary and structural reforms to revive industrial activity, attract investment and enhance Pakistan’s regional competitiveness, he said in a statement issued on Wednesday.
He emphasized that aligning Pakistan’s interest rates with those of regional economies is crucial to easing the mounting cost of doing business in the country.
Shaukat stressed that a reduction of at least single in the interest rate would provide vital relief to businesses, particularly small and medium-sized enterprises (SMEs), which are disproportionately burdened by high financing costs.
Competitive business environment is required in the country, the RCCI President added.