Trade and industry have hailed the reduction of 150 basis points in the Monetary Policy announced by the Governor of State Bank of Pakistan on Saturday. Korangi Association of Trade and Industry (KATI) Patron In-Chief S M Muneer, Chairman Ehteshamuddin, Vice Chairmen, Hassham A Razzak, Tariq Malik and former Chairmen Johar Ali Qandhari and Zahid Hussain said in a joint statement that reducing 150 basis points was a right decision at right time "and depicts the policy of acting Governor SBP, Yasin Anwar's business friendly policy".
They expressed hope that if the present policy would continue the interest arte would be brought down to single-digit which is the need of the day. They said that reduction in interest rate would be helpful in reviving industry. They recommended appointing Yasin Anwar as regular governor SBP.-PR