Karachi:
Korangi Association of Trade and Industry (Kati) President Junaid Naqi has demanded a 500 basis points (5 percent) reduction in the interest rate from the State Bank, saying that the inflation rate is decreasing below 4 percent while the foreign exchange rate is decreasing. Economic indicators are positive with reserves, current account surplus.
Junaid Naqi said that the State Bank should single-digit interest rates in the monetary policy meeting on December 16, 2024 is at the end, so as a gift to the people on the arrival of the new year, the interest rates should be significantly reduced, thereby reducing the cost of borrowing. Therefore, it will be easier for the business community, especially the industrialists, to get cheap loans and business activities will increase.
He said that the increase in business activities will increase exports, the value of the rupee will stabilize and the economy will move towards improvement.
Congratulating the government especially the Prime Minister and his team, he said that due to the best policies of the government, the economy was able to come out of the crisis, the credit of which goes to Prime Minister Shahbaz Sharif, the cabinet and the military leadership who He worked hard day and night to bring Pakistan out of the economic crisis.
President Kati also appreciated the efforts of SIFC.
