RAWALPINDI ( WNAM REPORT ): The Rawalpindi Chamber of Commerce and Industry (RCCI) has urged the State Bank of Pakistan (SBP) to announce a significant cut in the policy rate — by at least 3% — in its upcoming Monetary Policy Committee (MPC) meeting scheduled for Monday, September 15.
RCCI President Usman Shaukat stressed that Pakistan’s economy urgently requires a more competitive interest rate regime to revive industrial activity, attract investment, and enhance regional competitiveness. “Aligning Pakistan’s interest rates with those of neighboring economies is vital to reduce the cost of doing business, particularly for small and medium-sized enterprises (SMEs) that are disproportionately impacted by high financing costs,” he said.
Mr. Shaukat further noted that during Finance Minister Muhammad Aurangzeb’s recent visit to the Chamber House, the minister also signaled the possibility of a policy rate reduction later this year, citing easing inflation and stable economic indicators as grounds for monetary easing.
“The time for action is now. A meaningful reduction in the policy rate would provide much-needed relief to businesses, restore investor confidence, and create a more competitive environment for industry and exports,” Mr. Shaukat added.
The RCCI reiterated its longstanding call for urgent monetary and structural reforms to support sustainable economic growth, safeguard jobs, and strengthen Pakistan’s industrial base.
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