The Federation of Pakistan Chambers of Commerce and Industries (FPCCI) has officially requested an immediate 400 basis point cut in the policy rate from the government and the Monetary Policy Committee (MPC). This significant reduction is aimed at aligning the policy rate with the current inflation rate, which stands at 9%.
The FPCCI’s call for a 4% reduction reflects its concern about the impact of high-interest rates on businesses and economic growth. The organization has urged that this adjustment be included in the upcoming September monetary policy review.
The FPCCI, representing the leading business chambers in Pakistan, believes that a lower policy rate will provide much-needed relief to businesses and stimulate economic activity. The call for this reduction is supported by chambers nationwide, emphasizing the need for a more supportive monetary policy.