The Lahore Chamber of Commerce and Industry (LCCI) on Wednesday expressed its dismay over 50 basic points increase in mark-up and called for bringing it to single digit to encourage new investments, for revival of businesses and to give a jumpstart to the economy, which is at standstill.
In their reaction on monitory policy; the LCCI President Engineer Suhail Lashari, Senior Vice President Mian Tariq Misbah and Vice President Kashif Anwar said that the availability of cheaper money to the business doing people is a must to expedite the process of industrialisation that would ultimately result in much-needed job creation.
The LCCI office-bearers said that ongoing economic scenario shows that there is hardly any time left for economic managers of the country to manage things on economic front therefore, they all should understand well that a cut in the policy rate is absolutely necessary to give boost to the economic activities in the country. "If cheaper money would not be made available to the business-doing people, nobody would be putting up new ventures, they observed."
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