Top Pakistani Industrialist urges SBP to cut interest rates to shoot investment: Bloomberg

News Image

By MG News | March 06, 2020 at 01:03 PM GMT+05:00

0:00

March 6, 2020 (MLN): A top Pakistani Industrialist, Chief Executive of Arif Habib Corporation Limited, while giving his interview to Bloomberg has urged the State Bank of Pakistan (SBP) to cut interest rates to shoot investment in the economy.

The slowdown in current inflation numbers has provided an ample room to drop the interest rates by 50 bps this month from the current level of 13.25%, he said.

In the interview, he cited headline inflation that eased by more than two percentage points in February, and expectations for price-growth to slow further in March.

“The relief in inflation supports the case for decreasing interest rates, and Cheaper loans will increase consumer demand,” he said.

Arif Habib emphasized that the growth could only be improved if SBP lowers borrowing cost, Bloomberg reported.

As per Bloomberg, Arif Habib said that the measures to meet the conditions of the International Monetary Fund (IMF) has weighed on businesses and consumer demand. In addition, owing to devaluation, the projects’ costs have increased.

Thus, the rate cut is essential to attract new investments which currently are in the pipeline, he added.

 Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 131,949.07
198.95M
0.97%
1262.41
ALLSHR 82,069.26
730.83M
0.94%
764.01
KSE30 40,387.76
80.88M
1.11%
442.31
KMI30 191,376.82
77.76M
0.36%
678.77
KMIALLSHR 55,193.97
350.11M
0.22%
119.82
BKTi 35,828.25
28.42M
3.64%
1259.85
OGTi 28,446.34
6.84M
-1.02%
-293.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,125.00 110,525.00
107,865.00
-2290.00
-2.07%
BRENT CRUDE 68.51 68.89
67.75
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 106.00 106.00
105.85
-2.20
-2.03%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.50 67.18
66.04
-0.50
-0.75%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 05, 2025 at 02:57 PM GMT+05:00

National Savings Schemes see over Rs27bn inflow in May


July 04, 2025 at 10:16 PM GMT+05:00

CAT upholds CCP’s ruling against PREMA Milk


July 04, 2025 at 10:07 PM GMT+05:00

Gold price in Pakistan falls Rs1,500 per tola


July 04, 2025 at 08:01 PM GMT+05:00

TRG in Supreme Court


July 04, 2025 at 06:41 PM GMT+05:00

Govt domestic debt, liabilities nears Rs54tr in May



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg