Industry leaders warn interest rate hike to hit exports, economic growth

KARACHI: Trade and industry leaders on Monday criticised the State Bank of Pakistan (SBP) for raising the interest rate by 100 basis points to 11.5 per cent, calling the move ill-timed and unfortunate. They argued that it came at a delicate stage when the country was recovering and stabilising amid the Middle East conflict. They noted that even when inflation was on the lower side, the policy rate remained elevated at 10.5pc. The industry had repeatedly urged the central bank to bring it down...

By none@none.com (Aamir Shafaat Khan)