ISLAMABAD - The Federation of Pakistan Chamber of Commerce (FPCCI) has rejected the 1.5 percent reduction in interest rate announced by the State Bank of Pakistan.
While talking to The Nation, former senator and President of FPCCI Haji Ghulam Ali said that the development for trade and commerce was impossible with this interest rate announced by the SBP.
He stated that the government should bring the interest rate to a single digit in order to get some development in trade and commerce. While criticising the government, he said that the current interest rate was dangerous than the coronavirus for Pakistan.
The former Senator also asked the government to provide relief to the people in petrol and diesel prices according to the rules and laws; adding that the price of petrol and diesel was $22 per barrel in international market and the government has reduced rate to 15 rupees per litter which is injustice with the people of Pakistan.
He further elaborated that price of petrol and diesel were reduced to the lowest rate of 30 years and the government should also reduce the price per litter by Rs 40.