Hyderabad Chamber Of Small Traders And Small Industry Expresses Concern Over Increase In Interest Rate

President Hyderabad Chamber of Small Traders and Small Industry Muhammad Farooque Sheikhani has expressed his concern over 1.5 percent increase in the interest rate in monetary policy of State Bank of Pakistan adding that it would not only disturb the trade and industrial growth but also affect the new investment in the country.

HYDERABAD, (UrduPoint / Pakistan Point News - 6th Dec, 2018 ) :President Hyderabad Chamber of Small Traders and Small Industry Muhammad Farooque Sheikhani has expressed his concern over 1.5 percent increase in the interest rate in monetary policy of State Bank of Pakistan adding that it would not only disturb the trade and industrial growth but also affect the new investment in the country.

In a statement on Thursday, the President HCSTSI said that trader and industrialist community has been disturbed as a result of increase in their debts because of enhancement of interest rate.

The enhancement in the interest rate would badly affect the industrial development in the country and the investors would prefer to deposit their amount in banks instead to make investment in trade and industrial sectors, he added.

He demanded the government to withdraw the enhancement in the interest rate as it could reduce the quantum of imports and exports. The government should take all stakeholders into confidence prior to prepare any policy for the interest of the economy of the country, he added.