Daily Times

Chairman of Founder Group Sargodha Chamber of Commerce and Industry, Mian Tariq Yaqoob, urged the government to significantly boost economic growth by reducing the policy rate by 500 basis points in a single move, expected an announcement on Monday. Talking to media on Saturday, he emphasized that a substantial rate cut would not only invigorate economic activity but also benefit the government. ”Undue delays in this crucial decision would inflict unnecessary losses on the country’s economy, especially considering the government’s stated intention to bring the policy rate down to a single digit,” he said. Mian Yaqoob said a timely action would significantly enhance our economic stability and demonstrate the effectiveness of our recent policy measures. He said that a considerable reduction in the policy rate is imperative to bring bank mark-up rates back to single digit, making credit more accessible and affordable for businesses and consumers. Lower interest rates, he explained, will stimulate investment, boost economic activity, and contribute to the overall prosperity of the nation.