LCCI: ‘Rate hike to hit economy hard’

LAHORE: The decision to increase the discount rate will hit the economy hard as additional capital for businesses will now be more expensive, according to the Lahore Chamber of Commerce and Industry (LCCI).

The chamber has claimed that the State Bank of Pakistan (SBP) has adopted an incorrect strategy to deal with inflation by increasing  discount rate by 50 basis points.

Published in The Express Tribune, December 1^st, 2010.