The Federation of Pakistan Chambers of Commerce and Industries (FPCCI) has made a big demand from the government and Monetary Policy Committee to cut in policy rate by 400 bps immediately.
According to the FPCCI Declaration, the inflation rate in the country at 9 percent, but the policy rate should be brought up to 10 percent in line with inflation.
FPCCI said that an immediate 400 basis point cut in interest rates should be announced in the September monetary policy, while all chambers in the country are demanding a cut in interest rates.
It should be noted that the Federation of Pakistan Chambers of Commerce and Industries is the apex body of all the chambers.