KARACHI: Site ­Asso­ciation of Industry (SAI) President Abdul Hadi has urged the Governor State Bank of Pakistan to bring down its policy rate to four per cent from 7pc in view of the extraordinary circumstances and a global economic crisis due to Covid-19 pandemic so that business and industrial activities could continue unabated.

In a statement, he said the policy rate in Pakistan is much higher than 4pc in Bangladesh and 4.5pc in India.

A reduction in the inte­rest rate is essential to make Pakistani exports competitive, he added.

Published in Dawn, November 25th, 2020

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