Karachi: The Chairman of the Pakistan Chemicals & Dyes Merchants Association (PCDMA), Saleem Valimuhammad, has expressed strong disapproval over the recent 50 basis points reduction in the interest rate, calling it insufficient. He urged the government to reduce the interest rate to single digits in order to address the growing economic challenges the country is facing.
In a statement, Salim Valimuhammad stated that the current rate cut is not adequate given the state of the economy. “This reduction is not enough to create a meaningful impact. The economy cannot improve unless the interest rate is brought down to single digits,” he emphasized.
He further explained that reducing the interest rate to a single-digit level is essential for stabilizing the national economy. “If the interest rate remains at this level, it will be impossible for businesses to grow, and the overall economic growth will continue to slow down,” he added.
Salim Valimuhammad strongly believes that unless the interest rate is brought down to single digits, there will be little hope for the improvement of the economy. “We need to take urgent and positive steps to stimulate the economy. Lower interest rates are vital to boosting business activities and driving economic recovery,” he said.
