FAISALABAD: Farooq Yousaf Sheikh, President Faisalabad Chamber of Commerce & Industry (FCCI), has demanded that policy rate should be brought down to single digit in order to give a tangible relief to the exporters and gear up the economic activities in the country.
In a statement, he said that it is very encouraging that the Government and State Bank of Pakistan has already cut down the policy rate from 23 to 11pc but it is still too high to support the regeneration of economic activities. He said that the existing policy rate is still highest in the region and our exporters have to face tough competition from their rival countries.
He said that the next meeting of monetary policy is scheduled to be held on December 15 and concerned quarters must take pro-business decisions in view of global and regional scenarios. He said that as per previous practice 2pc cut is quite insufficient to catalyse the GDP and push socio- economic activities in the country.
Copyright Business Recorder, 2025