Daily The Business

LCCI for cut in markup rate

LAHORE: The Lahore Chamber of Commerce & Industry Friday
underlined the need for cut in markup rate in the larger interest of
trade, industry and economy.

Te LCCI President Almas Hyder said that in this scenario, when the
inflation has decreased, the Government should reduce the Interest
rate (SBP Policy Rate) from the current 10.75% to a Single Digit.

He said that according to the data released by the State Bank of
Pakistan, the Consumer Price Index (CPI) based inflation has reduced
to 8.8% in the month of April 2019 as compared to 9.4% in March 2019.
Core inflation, measured by non-food non-energy inflation, has also
reduced to 7% in April 2019 as compared to 8.5% in March 2019.

The LCCI President said that reduction in interest rate is vital as
the hike in interest rate has made borrowing expensive for private
sector and discouraged investment.

Leave A Reply

Your email address will not be published.