Mian Anjum Nisar, president of the Federation of Pakistan Chambers of Commerce and Industry, says the central bank ‘s one percent cut in interest rates is very disappointing.
According to the Federation of Pakistan Chambers of Commerce and Industry (AFP CCI) of President, Mian Anjum Nisar said the central bank on interest rates in percent has expressed his thoughts on the loss of all segments of the economy particularly. “Despite the clear message from trade and industry, the one per cent cut in interest rates by the central bank is astonishing and inevitable for our economy in the current scenario”, he said. Adding that given the current deteriorating economic situation. The central bank of Pakistan is supporting a significant reduction in interest rates with dynamic packages. The current decision was based on time and inflation.
Despite the fact that its business and sales are zero, the need of the hour is to adopt an aggressive approach to policymaking and to do what needs to be done today. The FPCCI Appreciated the regulator’s approach to improvement as reflected in the refinement of various refinance schemes. In the same spirit, we are ready to work with the regulator to ensure interest rates in the shortest possible time can be brought to 5 %.
Extracted from City42 News
