Pakistan, July 28 -- Federation of Pakistan Chambers of Commerce and Industry (FPCCI) former Vice President Zahid Iqbal Chaudhry has said that the persistently high interest rate remains one of the major impediments to Pakistan's economic revival and industrial expansion.
Talking to media representatives here on Sunday, Zahid Iqbal emphasized that under the leadership of SM Tanveer, the business community nationwide is urging the State Bank's Monetary Policy Committee to bring the policy rate down to single digit in its upcoming meeting scheduled for July 30. He noted that with inflation having dropped to approximately 4.5 percent, its lowest in recent years, maintaining a high interest rate is counterproductive. "It increases the cost o...
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