KARACHI — Hanif Gohar, the former Chairman ABAD, former Senior Vice President of FPCCI, Secretary General, UBG-Southern Zone, has called upon the State Bank of Pakistan and the government to urgently address the current economic conditions as we await the new monetary policy announcement.
With inflation figures dropping to 9%, it is imperative that immediate steps are taken to reduce the bank interest rates by 4%.
A reduction in interest rates today is crucial to:
1. Boost Economic Activity: Immediate lower borrowing costs will encourage businesses to invest, expand, and create jobs.
2. Support SMEs and Large Enterprises: A swift reduction will provide much-needed relief to small and medium enterprises, as well as large businesses, which are the backbone of our economy.
3. Encourage Consumer Spending: Lower interest rates will provide consumers with more disposable income, driving demand and supporting economic recovery.
We urge the State Bank and the government to act decisively today to ensure the continued momentum of our economic recovery. The time for action is now, and we look forward to seeing prompt measures that will benefit businesses and citizens alike.
