In the wake of growing national economy and sustained low rate of inflation, recently State Bank of Pakistan has readjusted its policy rate for the next couple of months. All Pakistan Business Forum (APBF) has lauded this recent development and considered it as an encouraging move for the investors and small entrepreneurs in the Pakistani market.
State Bank of Pakistan has readjusted its policy rate for the next two months as 6 percent against the previous rate 6.5 percent, that total cut of 5 basis points. This cut in the policy rate exhibits the consistent low rate of Consumer Price Index (CPI) and declining trend in inflation as compared to the previous year. If compared, in August 2014 inflation rate was noted to be 8.4 percent that is only 3.6 percent this year.
President APBF Ibrahim Qureshi, has appreciated reduction of 5 basis points in the policy rate by SBP and he said that, "The cut policy rate by SBP is a clear demonstration of better growing economy and controlled rate of inflation. Through this step SBP has supported the business community, providing them with opportunity to invest and grow adding further positive impact to the National Economy."
Ibrahim Qureshi also cautioned that the policy readjustment will ensure benefits in the real sense if it is coupled with smooth and favouring small and medium entrepreneur policies by the Government of Pakistan. He further said that, "Regardless of any discrimination of political affiliations, APBF is strongly committed and standing beside the Government to provide its full efforts making Pakistan a better economy."-PR