PESHAWAR
Sarhad Chamber of Commerce and Industry demanded of the government and Governor State Bank of Pakistan to reduce interest rates to single digit to stimulate economic growth and end the stagnation currently gripping the country.
He made this demand while talking to a group of businessmen from various sectors here at the chamber house on Friday.
Moqeem urged the State Bank of Pakistan (SBP) to announce a significant reduction in interest rates in the upcoming monetary policy meeting.
SCCI senior vice president Abdul Jalil Jan, vice president Shehryar Khan, members of the executive committee, secretary general of the chamber Muqtasid Ahsan were present on the occasion.
Moqeem said incumbent coalition government measures for promotion of economic activities, achieving growth targets are highly encouraging, however, it is needed to bring down the interest rate to its lowest level, which is currently 12 percent.
SCCI quoted official figures, stating that a visible decrease was witnessed in the inflation rate. Despite the fact, the policy has kept at its highest rate.
He demanded a significant cut in the meeting of the State Bank of Pakistan Monetary Policy Committee, which is scheduled on May 05.
The SCCI chief emphasized reduction in the current policy rate under the vision of the Special Investment Facilitation Council is essential in order to achieve targets of economic growth and improve country’ exports as per the vision of the Prime Minister of Pakistan.
SCCI chief stressed concrete steps for economic revival, ease of doing business for promotion of industries and trade, provision of soft loans and reduction in policy rate at the optimal level.
He said the business community has faced difficulties in the prevailing circumstances.
The chamber president urged the government to adopt business-friendly policies and provide relief to the business community.
