FAISALABAD: Faisalabad Chamber of Commerce and Industry President Rehan Naseem Bharara has termed the 1% reduction in the policy rate as highly inadequate in the current economic conditions of the country. He said that the prime minister, including members of his economic team, have openly admitted that it is not possible to run industries profitably until the policy rate comes down to single digits.
He said that at present, those who are running industries are actually causing their own personal losses, so a reduction of at least 4 percent in the policy rate was necessary.
He said that at present, inflation, foreign exchange reserves, exports and other economic indicators are gradually improving, so there was scope for a reduction of up to four percent in the policy rate, but the State Bank has reduced the policy rate by only one percent.
He said that to increase industrial production and exports, the government will have to decide to bring the policy rate to single digits as soon as possible. He said that the business community has been disappointed by the reduction in the policy rate by just one percent.
Copyright Business Recorder, 2025
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