Pakistan, March 17 -- The Federation of Pakistan Chambers of Commerce & Industry's Businessmen Panel (BMP) on Sunday observed that the high borrowing costs are indeed choking the industries at a time when they are in desperate need of breathing space as interest rate status quo displeased businesses across the country.

FPCCI former president and BMP Chairman Mian Anjum Nisar, while having a reality check, stated that country's economic house is not exactly in order. Inflation may be at record lows, but global risks are rising. The rupee is always one shock away from slipping, oil prices are shooting up, and food costs are unpredictable. A premature rate cut at this stage not only increases private sector borrowing and spending but also r...