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• Call for a cut in next MPC meeting to support industrial recovery
• OICCI, PBC term SBP decision ‘balanced, prudent’
KARACHI: The business community on Monday expressed disappointment over the State Bank’s decision to keep the policy rate unchanged at 11.5pc, urging monetary easing to support growth, exports and investment amid easing inflation expectations.
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh said that a static policy rate in double digits is highly detrimental to the country’s economic survival, adding that failure to ease borrowing costs would accelerate de-industrialisation and severely undermine export targets, which are critical for earning foreign exchange.
