The Multan Chamber of Commerce & Industry on Sunday hailed SBP to reduce policy (interest) rate by 25 basis points from 6.0 percent to 5.75 percent and said that it would not only help stimulate private sector growth but would also bring down the inflation rate. In a statement issued here, the MCCI President Fareed Mughis Sheikh said that the Governor State Bank deserves appreciation for bringing down the interest rate to 5.75 per cent from 8.5 per cent.
It was longstanding demand of the Multan Chamber of Commerce & Industry (MCCI) that mark-up rate should be at the lowest to provide some breathing space to the industrial, MCCI president added.