Pakistan’s interest rate is significantly higher than that of other countries in the region, negatively affecting businesses – APP Provincial Convener
To reduce production costs and increase employment, the interest rate must be brought down to single digits.
Karachi/Quetta : Syed Aman Shah, Provincial Convener of Awaam Pakistan Party (APP) Balochistan, has expressed serious concerns over the State Bank’s decision to maintain the policy rate at 11%, calling it detrimental to both the public and the business community.
He stated that when inflation in the country is consistently declining, maintaining such a high interest rate is unjustified. According to him, given the current economic situation, the policy rate should not exceed 4–5% to stimulate business activities and encourage investment.
Syed Aman Shah further said that Pakistan’s interest rate is much higher compared to other regional countries such as India, Bangladesh, and Sri Lanka, which is putting pressure on local industries. He emphasized that if the government truly wants to adopt business-friendly policies, it must bring the interest rate down to a single-digit level.
The high interest rate, he added, is leading to increased production costs, reduced employment opportunities, and a decline in exports. Lowering the interest rate would not only reduce industrial costs but also create more jobs across the country.
Syed Aman Shah urged the State Bank and economic policymakers to recognize the hardships faced by the public and immediately announce a reduction in the interest rate to stabilize the national economy and provide relief to the business community.
