Multan Chamber Of Commerce & Industry (MCCI) Demands Single Digit Policy Rate

Mohammad Ali (@ChaudhryMAli88) Published July 31, 2025 | 06:14 PM

Multan Chamber of Commerce & Industry (MCCI) has expressed reservations over State Bank of Pakistan's (SBP) decision of keeping the policy rate unchanged at 11 per cent and urged the government to review the decision and bring the policy rate down to single digit in the next monetary policy

MULTAN, (UrduPoint / Pakistan Point News - 31st Jul, 2025) Multan Chamber of Commerce & Industry (MCCI) has expressed reservations over State Bank of Pakistan's (SBP) decision of keeping the policy rate unchanged at 11 per cent and urged the government to review the decision and bring the policy rate down to single digit in the next monetary policy.

Despite inflation falling to 4-5% and improving economic indicators, the State Bank of Pakistan’s decision to maintain the interest rate at 11% was disheartening, an MCCI spokesman said in a statement on Thursday.

MCCI President Mian Bakhtawar Tanveer Sheikh said: "Given the declining inflation and signs of economic recovery, the private sector was expecting a cut to single-digit levels, around 9% or lower, to stimulate investment, industrial growth, and job creation.

He said that high interest rates would discourage borrowing meant for investment, stalling industrial expansion, and weakening business confidence.

Calling for a review of the monetary policy, Sheikh urged the central bank and government to align financial strategies with ground realities. “Pakistan’s economy is at a critical juncture. Pro-business policies are vital to maintain momentum and drive inclusive growth,” he added.

The MCCI president hoped that the authorities will review their recent decision. He further appealed to the government to ensure that next monetary policy unveil a single digit policy rate.