Zubair Motiwala Urges Interest Rate Cut KCCI Highlights Inflation Drop
Zubair Motiwala, Businessmen Group (BMG) leader has urged the authorities to cut the markup rate down to 14.5 percent from the current 19.5 percent interest rate in the coming monetary policy.
“Moody’s has also categorized the insecure loans to CAA2”.
KCCI has said that inflation has dropped to the lowest level of 9.6 percent in the last three years. “The inflation was 9.2 percent in October 2021, while the policy rate was 7.25”, KCCI stated.
The Chamber of Commerce stressed the need for a tangible reduction in the policy rate to boost commercial and industrial activities in the country. “Reduction in the policy rate will help Pakistan to improve its competitive position in the region,” KCCI said.
The State Bank of Pakistan (SBP) is scheduled to announce its next monetary policy on September 12.
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