President Islamabad Chamber of Commerce Ahsan Zafar Bakhtawari rejected the 3% increase in interest rate.
Responding to the increase in the interest rate, President Islamabad Chamber said that increasing the interest rate to 20% will hinder industrial development.
Ahsan Zafar Bakhtavari said that the decision to increase the interest rate should be withdrawn immediately, the economy will go towards further destruction with a 3% increase in the interest rate.
Increase in interest rate will be a multiplier for the country’s economy, inflation will increase many times. He said that the increase in production cost is disastrous for the industry
The government should find a middle way for the IMF agreement, the business community is aware of the government’s difficulties, the government should take all the chambers into confidence and formulate policies.
