KARACHI: The Korangi Association of Trade and Industry (KATI) has hailed the notable drop of 1.39 percent in the weekly inflation rate, as reported by the Bureau of Statistics. President Johar Qandhari expressed optimism regarding the downward trajectory of inflation, foreseeing potential relief for the common populace in accessing essential commodities.
However, amidst persisting high inflation levels, Qandhari emphasized the challenges faced by the salaried class in sustaining their livelihoods.
Attributing the decreasing inflation trend to a potential catalyst for economic revitalization, President Qandhari urged immediate action from the government, particularly the State Bank of Pakistan, to slash interest rates.
He argued that such a move would facilitate easier access to affordable loans for industrial investments, subsequently bolstering economic growth and employment opportunities. Qandhari projected a potential economic growth surge of up to 2 percent with the implementation of reduced interest rates.
Furthermore, KATI president underscored the necessity for government intervention in alleviating food prices alongside interest rate adjustments. Qandhari emphasized that the pervasive impact of inflation necessitates comprehensive governmental measures to address the concerns of all societal strata.
Qandhari reiterated the urgency for governmental action in mitigating the inflationary pressures plaguing the nation, urging a holistic approach to ensure economic stability and prosperity for all citizens.
Copyright Business Recorder, 2024
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