KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Zakaria Usman has asked the State Bank of Pakistan to cut discount rate and ensure affordable financing for the industrial sector.
Zakaria Usman said that the FPCCI had been emphasising on the need for a conducive environment for commercial and business activities in the country and reduction in discount rate would give breathing space to the industry. “Monetary policy should be liberal to promote business-friendly environment,” he added.
The FPCCI president, lauding the government policies, said that due to the prudent economic policies of the government, inflation had been reduced, adding that however, the impact of the relatively controlled inflation should be passed on to the business sector in the form of a reduced discount rate.
The FPCCI chief was critical of the policy to divert public money in commercial banks to finance the fiscal deficit widening saving-investment gap in the economy.
