Karachi: Prime Minister (PM) Imran Khan on Monday expressed his hope that the State Bank of Pakistan (SBP) will reduce the national interest rate in order to boost economic activities in the country, a news source reported.
The PM made these comments during a meeting with representatives of the business community at the Governor House Sindh. The delegation sought assurances from the PM that the SBP would reduce the interest rate to help businesses grow. SBP Governor Reza Baqir was also present at the occasion.
PM Khan took the opportunity to voice his hope that the
interest rates would be lowered to help the business community and the
country’s economy; especially considering that the meeting took place a day
before the SBP’s Monetary Policy Committee (MPC) was to announce the interest
rate for the next two months. While Governor Baqir did not reveal any
information pertaining to any changes to the interest rate, he did state that
the ongoing economic reforms being implemented by the government were already beginning
to show positive results.
The PM requested the business community to cooperate in order to give hope to the nation’s citizens. He also welcomed suggestions from the delegation for improving their businesses and the country’s economy.
The representatives of the business community asked the PM to develop an industrial policy for reviving struggling businesses and to attract new investments. They further informed PM Khan about the non-availability of gas, and hikes in power and gas tariffs, which were causing exports to suffer. The meeting also discussed the cut in imports, stating that this could lead to an increase in smuggling and other such activities in the country.
