ICCI asks MPC to further reduce policy interest rate to stim

ICCI asks MPC to further reduce policy interest rate to stimulate economy


Daily Times
July 27, 2021
The Islamabad Chamber of Commerce and Industry (ICCI) Monday called upon the State Bank of Pakistan’s Monetary Policy Committee (MPC) to make decent cut in policy interest rate while reviewing the monetary policy on July 27, 2021 and bring it down to 3-4pc in order to stimulate the economic activity and turn around the economy.
President ICCI Sardar Yasir Ilyas Khan said that countries around the world had made drastic cut in policy interest rate to enable businesses to combat the impact of Covid-19 pandemic, but the State Bank of Pakistan was still maintaining interest rate at 7pc, which was considered quite high as compared to many other countries.

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