Business Community seeks 2% SBP rate cut, Dr. Mirza Ikhtiar Baig.

The monitory policy committee review meeting is scheduled to meet on Friday 15^th 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.