Pakistan, Aug. 10 -- Ferozepur Road Industrial Association (FRIA) Chairman and PIAF leader Shahbaz Aslam has said that a significant cut in the key policy rate is essential to revive economic activity, reduce the cost of doing business, and put the country on the path to sustainable industrial growth.

Shahbaz Aslam observed that while inflationary pressures have shown signs of easing and global commodity prices remain relatively stable, the present high interest rate continues to discourage investment and expansion in the industrial sector. He said that the business community was expecting the State Bank of Pakistan to adopt a more growth-oriented approach in its latest monetary policy, as a lower policy rate would help unlock the potent...