Businesses for cut in policy rate

The business community has welcomed the monetary policy announced by the State Bank of Pakistan (SBP) on Saturday. The business leaders including Maqsood Ismail, President Lasbela Chamber of Commerce and Industry (LCCI) and Chairman, Pakistan Tanners Association (SZ) Rehan Hannan while hailing the Monetary Policy being maintained at 600 basis points said that the state of economy demands a cut in basis points by at least 100 basis points in order to give breathing space to the industry that has remained under extreme pressure due to unbearable cost of doing business besides tough competition from foreign competitors that keeping on to snatch Pakistan's market share in the global markets.