Islamabad-UNS: President of the Federation of Pakistan Chambers of Commerce and Industry, Atif Ikram Sheikh, regarding the monetary policy coming on May 5th, has said that the State Bank has the capacity to bring the policy rate to 7 percent.
He stated that a reduction in the interest rate will be announced in the upcoming monetary policy meeting. This month presents the central bank with an excellent opportunity to bring the interest rate into single digits. He expressed these views in a statement along with Chairman Capital Office Karim Aziz Malik, Vice President Tariq Jadon, and Chairman Coordination Malik Sohail.
President of the Federation Atif Ikram Sheikh said that economic indicators are positive and the rate of inflation increase has decreased, and it is necessary to pass on the benefit of the reduction in inflation to the common man.
He said that reducing the interest rate will increase the circulation of money because the money lying in banks will be invested in industries, and an increase in industrial production will create employment opportunities. Currently, the unemployment rate in Pakistan is up to 7 percent, and a decrease in the unemployment rate will directly reduce poverty.
