{"id":309314,"date":"2023-01-24T08:37:08","date_gmt":"2023-01-24T03:37:08","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=309314"},"modified":"2023-01-24T08:37:08","modified_gmt":"2023-01-24T03:37:08","slug":"increase-in-interest-rate-would-adversely-impact-investment-rcci","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/increase-in-interest-rate-would-adversely-impact-investment-rcci\/","title":{"rendered":"Increase in interest rate would adversely impact investment: RCCI"},"content":{"rendered":"<p> Rawalpindi<br \/>\nThe Rawalpindi Chamber of Commerce and Industry (RCCI) expressed strong reservations and concerns over the increase of 100 basis points in the interest rate by the State Bank of Pakistan (SBP) taking it from 16 percent to 17pc.<br \/>\nRCCI President Saqib Rafiq in a statement urged the government to withdraw this hike as it will have an adverse affect on the growth of industrial activities and create difficulties for small and medium enterprises (SMEs). Pakistan needs quick revival of business and industrial activities to improve the ailing economy, however a 100 basis point increase in interest rate would make the cost of credit unaffordable for the business community and badly affect their efforts for promoting business activities, he added.<br \/>\nHe said a sharp increase in the interest rate would discourage investors from considering Pakistan for investment and badly affect investment in different projects.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rawalpindi The Rawalpindi Chamber of Commerce and Industry (RCCI) expressed strong reservations and concerns over the increase of 100 basis points in the interest rate by the State Bank of Pakistan (SBP) taking it from 16 percent to 17pc. RCCI President Saqib Rafiq in a statement urged the government to withdraw this hike as it [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-309314","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Increase in interest rate would adversely impact investment: RCCI<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/increase-in-interest-rate-would-adversely-impact-investment-rcci\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Increase in interest rate would adversely impact investment: RCCI\" \/>\n<meta property=\"og:description\" content=\"Rawalpindi The Rawalpindi Chamber of Commerce and Industry (RCCI) expressed strong reservations and concerns over the increase of 100 basis points in the interest rate by the State Bank of Pakistan (SBP) taking it from 16 percent to 17pc. 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