Businessmen Forum’s central leader and former vice president of FPCCI, Captain Abdul Rashid Abro today voiced disappointment over the State Bank of Pakistan’s decision to maintain the current interest rate. He highlighted the need for an immediate reduction to 5 to 6 to boost economic growth.

Captain Abro pointed out that the industrial sector is already under strain and stressed that a reduction in interest rates is crucial for stimulating investment and growth. He argued that the SBP’s decision contradicts the government’s claims of decreasing inflation, which is evident in current economic data.

He expressed concern that the SBP’s actions do not align with the improving economic conditions and the declining inflation rate. Captain Abro urged the SBP to support the government’s industrial promotion efforts and help realize Prime Minister Shehbaz Sharif’s vision.

The business community’s demand for a single-digit interest rate has been consistent, yet the Monetary Policy Committee appears to overlook the private sector’s requests. He stressed that industrial growth is vital for national development and that accessible loans on good terms could propel Pakistan toward progress.