Rawalpindi:The Rawalpindi Chamber of Commerce and Industry (RCCI) has termed the State Bank of Pakistan’s (SBP) decision to keep the policy interest rate unchanged at 10.5 percent a cautious and balanced approach in the prevailing economic environment.RCCI President Usman Shaukat said that maintaining the policy rate at 10.5 percent appears to be a prudent step considering the ongoing geopolitical uncertainties, rising global energy prices, and supply chain disruptions, which continue to exert pressure on inflation worldwide.
He noted that such external factors require careful economic management to safeguard Pakistan’s fragile economy.He added that while stability in the policy rate is a positive signal for the business community, any further increase in interest rates could dampen business confidence, investment, and industrial expansion. High borrowing costs make it difficult for businesses, especially small and medium enterprises, to sustain growth and create employment opportunities.
Usman Shaukat emphasized that the State Bank’s cautious approach will be crucial in maintaining a balance between controlling inflation and supporting economic growth. He urged policymakers to continue monitoring global developments closely and adopt measures that facilitate industrial growth, exports, and ease of doing business.
