SCCI lauds SBP over lowering of interest rate to 7%.

SIALKOT -- Sialkot Chamber of Commerce and Industry (SCCI) President Muhammad Ashraf Malik had welcomed a reduction in the interest rate by 100 basis points, lowering it to 7% by the State Bank of Pakistan (SBP). In a press statement issued here on Monday, he said that it was the most constructive decision for the business community taken by the government. He said the whole business community had welcomed the decision, as it would provide relief to the export industry of Pakistan.The chamber president said that the fifth time reduction in the interest rate in four months would provide immediate liquidity to homes and businesses to avoid defaults and contain unemployment. He...