State Bank of Pakistan decided to maintain the policy rate at 7%
KARACHI – The Monetary Policy Committee of the State Bank of Pakistan has decided to maintain the policy rate at 7%. For the Business community it is not at all favorable, being interest rate is still very high thus under this the capacity to expand a business is limited and access to finance is still difficult for Exporter, Importer, Industrialist, Manufacturers, Traders, Small Businesses, SMEs and Startups said Ateeq Ur Rehman ( Economic & Financial Analyst).
He said that under these rates Growth and Saving will be a more daunting challenge, amidst very difficult times when the country is faced with Economic meltdown due to Third Deadly Wave of Covid-19.
Suggestions to improve human lives and mitigating extreme financial hardships faced by weaker segments of the society by improving the Deep Sea Fishing Industry , Dairy Farming Industry, Local Production of Industrial Raw Material , Revival of Sick Industry and Investment on Value Added Industry will be bit difficult under such high interest rate , said Ateeq.
Interest rate should be not more than 4 % to cater required Industrial and Agricultural Growth.
