Pakistan, July 29 -- Sukkur Chamber of Commerce and Industry (SCCI) President Muhammad Khalid Kakezai on Tuesday has emphasized that bringing down the interest rate to a single digit is imperative for the survival of the national economy. The current policy rate of 11 percent set by the State Bank of Pakistan is exceptionally high and needs to be reduced urgently.

In a joint statement with Senior Vice President Amit Kumar and Vice President Malik Muhammad Owais Rais, Kakezai said that considering the global economic conditions, national inflation, and industrial requirements, the interest rate should be around 6 percent. However, at the very least, it should be brought down to below 9 percent immediately to give a boost to the country's ...