The spokesman for the Lahore Chamber of Commerce & Industry (LCCI), Mian Nauman Kabir, has urged the State Bank of Pakistan (SBP) to bring down the mark-up rate for long-term financing to three percent.
He, in a statement issued here on Wednesday, said the high rate of mark-up for long-term financing is not only hitting the industrial sector hard, but also giving rise to graph of unemployment. "If the SBP brings down the mark-up rate to three percent it would create much-needed industrial revolution, as industrialisation in the country is a pre-requisite for progress of any country and in the presence of high mark-up rate for long-term financing the dream of industrialization could not be fulfilled", the spokesman added.
Mian Nauman Kabir also said the low mark-up rate would also help Pak entrepreneurs to cope with post-WTO and Safta regimes.
He said that 10 years ago such measures were taken to help establish industry in the country and now again there is a need to bring mark-up rates down for economic progress of Pakistan.
Comments
Comments are closed.