The Piaf-Founders Alliance has strongly criticised the State Bank of Pakistan for making another two percent increase in discount rate, and termed it an anti-industry step. Piaf-Founder Alliance leader Sheikh Mohammad Arshad stated this while addressing a delegation of Kasur Tanneries Association here on Thursday.
He said that the recent decision of the State Bank of Pakistan would not only decrease the volume of overall business, but would also take the graph of unemployment to new heights. The alliance candidates for Associate Class and former presidents of Lahore Chamber of Commerce and Industry (LCCI) Mian Anjum Nisar and Iftikhar Ali Malik were also present on the occasion.
Speaking on the occasion, President of Kasur Tanneries Association Mohammad Naeem said that in the existing scenario, the raise in discount rate by the SBP would push the whole industrial sector to the wall. He demanded of the government to force the SBP to review its decision.
Speaking next, Hafiz Mohammad Munir and Zahid Huusain expressed hope that the alliance leadership would actively take up the matters relating to the business community at the proper forum, and assured full support of the LCCI members to Kasur Tanneries Association in the LCCI elections on November 18 and 19.
Meanwhile, another delegation from Okara, led by Zahid Mehr, called on Piaf-Founders Alliance leaders Mian Mohammad Ashraf and Mian Anjum Nisar, and assured their support for the Alliance. President of Shisha Market, Cooper Road, Mehmoodul Hassan, and other office-bearers hosted a luncheon reception for the Alliance candidates.
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