Former FPCCI Vice President Captain Abdul Rashid Abro, a prominent figure in the Pakistan Business Forum, has urged the Governor of the State Bank of Pakistan to lower interest rates to at least 5% at the next monetary policy meeting on November 4.
Such a reduction, he contended, is essential for boosting trade operations in the nation, enabling industrialists and exporters to operate with less risk and more confidence.
Abro noted that according to latest official data, inflation was 6.9% in September and is expected to decline to 6.3% in October. He emphasized the urgent need to reduce interest rates from the present 17.5% to 5% and to target single-digit rates by December in light of this.
