FPCCI Warns of Crippling Economy, Urges Policy Rate Cut

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh expressed concern over an 18.1% rise in the trade deficit to $7.1 billion in 2MFY27, driven by surging imports outpacing exports. He warned that exceptionally high SBP policy rates and exorbitant energy costs are rendering export-oriented industries uncompetitive and stalling private sector credit growth. The FPCCI urged the government and SBP to immediately devise a crisis-response strategy, including an aggressive reduction in the policy rate and rationalisation of electricity and gas tariffs. Such economic pressures, if unaddressed, could further strain the PKR against the USD and potentially support local gold prices.

بحوالہ / Source: www.dawn.com