FPCCI criticises no reduction in policy rate

KARACHI: Acting President FPCCI Dr. Mirza Ikhtiar Baig criticised State Bank of Pakistan for not reducing policy rates from 13.25 percent.

He said the industry , capital market and business community were expecting reduction in the policy rate by 25 basis points to 50 basis points keeping in view the economic indicators shared by Dr. Abdul Hafiz Sheikh at the recent press conference.

He requested State Bank of Pakistan to consider reduction of policy rate in the next review meeting of the State Bank Monetary Policy in November 2019.

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