Business Community seeks 2% SBP rate cut, Dr. Mirza Ikhtiar Baig.
The monitory policy committee review meeting is scheduled to meet on Friday 15th May 2020 to announce SBP policy rate. Dr. Mirza Ikhtiar Baig, former SVP FPCCI & leader of business community urged State Bank for 2% cut in SBP policy rate to support national economy. Dr. Baig appreciated SBP bringing down policy rate to 9% and requested further rate cut of 200 basis point to 7%. According to Dr. Baig, the lockdown of trade & industry has caused devastating effects shrinking the economy. He appreciated Governor State Bank Dr. Reza Baqir for their various schemes to support exporters & industrialists to pay salaries to their workers and requested State Bank to further reduce their policy rate by 2% to support domestic economy.
