PESHAWAR, Sep 16 (APP):Sarhad Chamber of Commerce and Industry (SCCI) President Junaid Altaf on Wednesday called for gradual reduction in the policy rate to support business activity, investment and industrial growth, while appreciating the State Bank of Pakistan’s efforts to maintain macroeconomic stability. In a statement issued, the SCCI chief said a lower interest rate would help promote economic and commercial activities and facilitate businesses in expanding investment and creating …
SCCI seeks lower interest rate to support business, industrial growth
PESHAWAR, Sep 16 (APP):Sarhad Chamber of Commerce and Industry (SCCI) President Junaid Altaf on Wednesday called for gradual reduction in the policy rate to support business activity, investment and industrial growth, while appreciating the State Bank of Pakistan’s efforts to maintain macroeconomic stability.
In a statement issued, the SCCI chief said a lower interest rate would help promote economic and commercial activities and facilitate businesses in expanding investment and creating employment opportunities.
He proposed bringing the policy rate into single digits, with a target of five percent over the next three months, subject to economic conditions.
Junaid Altaf said monetary policy should take into account prevailing economic conditions, particularly cost pressures affecting businesses.
He noted that fuel and energy costs, transportation expenses, supply-chain challenges and food prices were among factors affecting inflation.
He urged the government and relevant institutions to take targeted measures to improve energy efficiency, strengthen supply chains and ease cost pressures on businesses.
The SCCI president also called for tariff rationalization measures for export-oriented and manufacturing sectors to enhance their competitiveness.
He proposed expanding dedicated concessional financing schemes to enable small and medium enterprises (SMEs) to invest, expand operations and generate employment.
Junaid Altaf further sought targeted incentives for industries in Khyber Pakhtunkhwa to help businesses manage transportation and logistics costs associated with the province’s geographic location.
He said coordinated measures supporting investment, industrial activity and business expansion would contribute to sustainable economic growth.
