Successive reduction in policy rate has proved beyond any doubt that the government’s economic policies are in the right direction and would play a key role in stabilizing the overall economy, said Mr. Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI).
In a statement here on Tuesday, he welcomed 2.5% reduction in policy rate and said that it is the visible result of a positive and balanced strategy. He said that the government had taken stringent measures which yielded positive results in the form of reduction in current account deficit, inflation, prices and substantial increase in foreign remittances and exports.
All these indicators clearly depict that the economy has come out of the wood and now the stabilization process has been initiated, he added. He was optimistic that reduction in mark up rate would continue as a result of economic stability and hopefully it would bring it down to single digit during next year. —APP
