Karachi: All Pakistan Textile Mills Association Aptama has demanded a reduction of 400 basis points in the new monetary policy from the State Bank.
Aptama Chairman Kamran Arshad has said that high interest rates are a hindrance to the growth of the textile sector. He said that the real interest rate of 10.6% is unsustainable. Need to bring.
Inflation rate has come down to 6.9% but interest rate remains at 17.5%.
Meanwhile, Hub Chamber of Commerce and Industry President Yakub Apni Kareem has said that a rapid increase in industrial and commercial activities has become necessary to stop the worst inflation in the country.
The State Bank should reduce the current interest rate by at least 4 percent, the current interest rate of 17.5 percent is not possible to promote commercial activities, the reduction in interest rate will encourage new investors.
Apart from this, Korangi Association of Trade and Industry (Kati) President Junaid Naqi has demanded from the State Bank and the government that the Central Bank should immediately announce a reduction in interest rates in view of the recent drop in inflation.
