President Federation of Pakistan Chambers of Commerce and Industries Atif Ikram Sheikh on Monday hailed the reduction of 200 basis points in the policy rate by the State Bank of Pakistan (SBP), saying there is scope for further reduction in the interest rate.
President Federation of Pakistan Chambers of Commerce and Industries Atif Ikram Sheikh has expressed felicitation on the announcement of a 2 percent reduction in interest rates by the Central Bank and said that the next monetary policy announcement may reduce by 400 basis points, said a press release issued here.
He hoped that in the coming six months the policy rate would be reduced by 9 per cent. Atif Ikram Sheikh said that the reduction in the policy rate will increase the economic development, the currency circulation including investment, exports will also increase, the reduction in the interest rate will also reduce the internal debt of the government.—APP
