Export refinancing rate Industrialists hail 1.5 percent cut

Industrialists have appreciated the 1.5 percent cut in the export refinancing rate to bring it to 6 percent from 7.5 percent and the mark-up rate on Long Term Financing Facility (LTFF) to 7.5 percent from 9 percent. Leader of business community S. M. Muneer said that it was a step in right direction.
He also said that it would result in increase in exports and reduction in production cost. President, All Karachi Industrial Alliance, Mian Zahid Hussain while appreciating the reduction in rate appealed to the government to cut electricity tariff. President Korangi Association of Trade and Industry (KATI), Rashid Ahmed Siddiqui highly appreciated the reduction in export refinancing and said that it would directly result in lowering the production cost and cheaper financing would be available.