The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and other trade bodies have termed the State Bank of Pakistan's (SBP) decision to keep the interest rate at 11.5% as "contractionary" and harmful to industry and exports. They had anticipated a reduction to lower the cost of doing business, facilitate trade, and revive industrial activity. Business leaders emphasized that a single-digit interest rate is critical to reduce production costs and boost the economy, warning that high financing costs are leading to industrial closures and hindering competitiveness. This continued high-interest rate environment could put upward pressure on USD/PKR due to economic slowdown concerns, potentially making imported gold more expensive in local currency.
بحوالہ / Source: www.brecorder.com