Commercial Importers Urge SBP to Cut Policy Rate to Revive Economy
PCDMA calls for a policy rate cut to support Pakistan’s economy.
Pakistan Chemicals & Dyes Merchants Association (PCDMA) Chairman Saleem Mukati has urged the State Bank of Pakistan (SBP) to cut interest rates. He said the move could revive economic activity and ease financing pressures on businesses.
Mukati urged SBP Governor Jameel Ahmed to consider a rate cut at the Monetary Policy Committee (MPC) meeting scheduled for October 26, 2026. He said reducing the policy rate to single digits could boost industry and trade.
High Interest Rates Burden Businesses
Mukati said high borrowing costs had become a major obstacle for the business community. Businesses and industries are also facing serious economic challenges. Meanwhile, global economic uncertainty continues to put pressure on commercial activity.
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He argued that high interest rates could further weaken businesses. In his view, relying on expensive borrowing to control inflation would not adequately address the wider economic challenges. Traders and industrialists, he added, continue to bear much of the financial burden.
PCDMA Calls for Economic Recovery
The PCDMA chairman urged the SBP governor to consider the concerns of the business community. He called for a monetary policy that supports investment and economic stability.
Mukati said lower interest rates could help businesses manage their financial obligations. The move could also encourage investment and strengthen industrial production. Moreover, increased commercial activity could create new jobs.
He expressed hope that the MPC would consider the business community’s concerns at its upcoming meeting. He said a substantial rate cut could ease financial pressure on businesses. It could also help restore momentum across Pakistan’s trade and industrial sectors.
