Irked: MCCI wants business-friendly policies
Central bank raised the key policy rate by 25 basis points to 6%
Central bank raised the key policy rate by 25 basis points to 6%. PHOTO: AFP
MULTAN:
The Multan Chamber of Commerce and Industry (MCCI) has expressed concern over the monetary policy announced by the State Bank of Pakistan (SBP) for the next two months.
The central bank raised the key policy rate by 25 basis points to 6%, keeping in mind the increasing pace of inflation following rupee depreciation.
However, MCCI President Malik Asrar Ahmed Awan said industry and business-friendly policies should be introduced. “The SBP should adopt long-term policies instead of depending on a short-term policy.” He said that the SBP should focus on regulating government spending and unabated borrowing instead of increasing interest rates, which will pressurize the industrial sector and its production.
Published in The Express Tribune, February 8th, 2018.
The Multan Chamber of Commerce and Industry (MCCI) has expressed concern over the monetary policy announced by the State Bank of Pakistan (SBP) for the next two months.
The central bank raised the key policy rate by 25 basis points to 6%, keeping in mind the increasing pace of inflation following rupee depreciation.
However, MCCI President Malik Asrar Ahmed Awan said industry and business-friendly policies should be introduced. “The SBP should adopt long-term policies instead of depending on a short-term policy.” He said that the SBP should focus on regulating government spending and unabated borrowing instead of increasing interest rates, which will pressurize the industrial sector and its production.
Published in The Express Tribune, February 8th, 2018.