The Lahore Chamber of Commerce and Industry (LCCI) yesterday urged the State Bank of Pakistan (SBP) to cut the interest rate by three percentage points (300 basis points) in view of the sharp decrease in inflation rate.
LCCI President Ijaz A. Mumtaz said that it was a great opportunity for the SBP to bring down its policy rate to 6.5 per cent from 9.5pc to revive manufacturing sector, which has been enduring severe electricity and gas shortages for a long time.
