ISLAMABAD: In a statement, he highlighted that high interest rates have stifled economic growth with increasing the cost of doing business and due to absence of investors interest.He argued that a lower interest rate would encourage businesses to borrow, invest, and expand their operations, ultimately leading to job creation and economic development.He said that businesses in Pakistan are struggling due to rising production costs, limited access to affordable financing, and an bleak economic environment. A single-digit interest rate, according to Malik, would ease the financial burden on the private sector, particularly small and medium-sized enterprises (SMEs), which form the backbone of the economy. He urged the government and central bank to adopt a pro-growth monetary policy and create a conducive environment for investment instead of lowering rate by one percent. Iftikhar Malik also stressed the importance of reducing reliance on foreign loans and enhancing domestic revenue generation to ensure long-term economic stability. He called for bold reforms and effective policymaking to restore investor confidence, stimulate economic activity, and place Pakistan on a sustainable path of growth and prosperity.
