SAI Chief Criticizes 2% Interest Rate Cut, Urges 5% Reduction

Raising Interest Rate to only 13% Will Not Benefit Pakistan’s Economy: Ahmed Azeem Alvi:

KARACHI: Ahmed Azeem Alvi, President of the SITE Association of Industry Karachi, has called the State Bank of Pakistan’s reduction in interest rates by only 200 basis points (2%) disappointing. Despite demands from the business community, he has called for a reduction of 500 basis points (5%).