LCCI for single digit mark-up

The Lahore Chamber of Commerce and & Industry (LCCI) has urged the State Bank of Pakistan (SBP) to bring down the mark-up rate to single digit in the larger interest of trade, industry and economy.

LCCI President Irfan Iqbal Sheikh on Saturday said that reduction in mark-up rate from existing 13.25 percent to single digit would be a great favour to the industrial sector.

It would help the government to attain the target of industrial growth, would reduce the cost of product and would also bring capital of the banks into circulation, he said.

"Markup rate influences the cost of product. Pakistani products cannot compete in the international market to those countries which are offering capital to their industries on zero or less than one percent mark-up rates", he said.