FPCCI opposes likely hike in interest rate

KARACHI: FPCCI President Atif Ikram Sheikh has urged the State Bank to avoid increasing interest rate. He said that the Monetary Policy Committee meeting will be held today, and added that further increase in interest rates in the current economic conditions will be detrimental to business. The recent increase in inflation rate is temporary due to the situation in the region, Atif Ikram Sheikh. He was of the view that reduction in interest rates is necessary to promote investment and increase employment opportunities. Business-friendly decisions are indispensable to support the economy due to the tense situation in the region Atif Ikram Sheikh added. High interest rates can slow down industrial and commercial activities, negatively impacting the economy, he mentioned. He emphasised that need that Pakistan needs to adopt a cautious policy due to the uncertain situation in the region. He said average inflation is expected to be around 7. 5 percent during the next 12 months. Copyright Business Recorder, 2026

Read full story on Business Recorder