Pakistan, July 29 -- All Pakistan Textile Mills Association (APTMA) Chairman Kamran Arshad on Monday expressed his serious concern about the State Bank of Pakistan's monetary policy and demanded to bring the interest rate down from 11 percent to 9 percent.

In a statement, Kamran Arshad said that 11 percent interest rate is harming the activities of the business sector. He further said that 11 percent interest rate is higher in Pakistan as compared with other regional countries.

Kamran Arshad said that due to high interest rates, Pakistan is unable to compete in international business activities.

He urged the Federal Board of Revenue to allow business activities to continue as it would help to achieve their revenue collection target.

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