State Bank asked to cut policy rate to 9.5 percent

Karachi, April 06, 2020 (PPI-OT): Ismail Suttar, President of Lasbela Chambers of Commerce and Industry (LCCI), in a statement on Saturday said that the recent proactive measures offered by State Bank of Pakistan to exporters is timely and will address the liquidity crisis situation and provide genuine support to industries.

He said earlier when interest rates were slashed by 75 basis points, business community erupted but now with corrective long-term fixed financing and sales refund measures at place, all the hue and cry had transformed into hope for both small and big businessmen including manufacturers and exporters.

Suttar claimed that now it seemed easier through longer credit borrowing terms and lower interest for industrialists to purchase equipment at affordable 7 percent lease on a 10 years’ period and we are grateful to the State Bank of Pakistan for putting needs of manufacturers first. However, given the current economic situation, he’s called for central bank to further cut policy rate to around 9.5 percent, which will further improve the competitive level of our exports in the international markets.

For more information, contact:
Public Relations Officer,
Lasbela Chamber of Commerce and Industry (LCCI)
Ground Floor, Lieda Office Building, Hub Distt., Lasbela
Tel: +92-85-3303410, +92-85-3304461
Fax: +92-85-3302431
Cell: +92-85-300-2023448

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