Rawalpindi Chamber Of Commerce And Industry Demands To Decrease Interest Rate

Rawalpindi Chamber of Commerce and Industry (RCCI) has urged the government to lower the interest rate as it has increased the credit cost of commercial banks which is badly affecting the growth of industrial activities

RAWALPINDI, (UrduPoint / Pakistan Point News - 28th Jan, 2020 ) :Rawalpindi Chamber of Commerce and Industry (RCCI) has urged the government to lower the interest rate as it has increased the credit cost of commercial banks which is badly affecting the growth of industrial activities.

In a statement issued here Tuesday, the RCCI president said the business community was hoping that interest rate would fall.

He said Pakistan needed quick revival of business and industrial activities to improve the health of the economy, adding the current rate of interest, 13.

25 percent, had made the cost of credit unaffordable for business community.

The RCCI chief said the national economy was facing a huge challenge of export fall, contraction in Large Scale Manufacturing (LSM), unemployment, lack of infrastructure and impediments in taxation.

"Lower interest rate will also ease the pressure on government to make its key projects like Kamyab Nojwaan and Ehsaas successful", he added.