Dr. Mirza Ikhtiar Baig former SVP FPCCI & leader of business community hailed PM economic relief package to counter the negative impact of corona virus. Dr. Baig appreciated reduction in SBP policy rate by 1.5% to 11% from 12.50% by SBP and said it will ease the financial burden on trade & industry under the lockdown situation and would also benefit Rs. 300 billion yearly to the government due to reduction in the markup payments on govt loans.
Dr. Baig repeatedly advised economic team to reduce the policy rate to single digit to support stock exchange and national economy in this crucial situation due to epidemic. Dr. Baig also appreciated reduction of petrol & diesel prices to Rs. 15 per liter which will help common man and would reduce inflation. He called allocation of Rs. 100 billion for exporters refund timely to ease liquidity crunch of the exporters and appreciated the measures announced by Prime Minister to give relief to the common man.