KARACHI, Aug 4: The Korangi Association of Trade and Industry (KATI) has sought reduction in the interest rate in the forthcoming monetary policy.

“The SBP should reduce the mark up rate which is the highest in the region. Our industry is suffering badly due to the high rate and the volume of non performing loans is increasing alarmingly,” chairman KATI Ehteshamuddin said in a press release.

Ehteshamuddin further urged the SBP to bring down the mark up rate to a single digit. The monetary policy would be announced by the SBP on August 10.