HUB: Inflation, a persistent challenge, can only be curtailed through a robust advancement in commerce and industrial dynamism, asserts Yakoob H. Karim. The esteemed President and Executive Committee leader of the Hub Chamber of Commerce and Industry has called for a decisive reduction of at least 4% in the mark-up rate during the forthcoming Monetary Policy Committee meeting.
In an urgent assembly of the Executive Committee, Mr. Karim emphasized that the government’s aspirations—aligned with the World Bank’s support to mitigate inflation—can only be realized by expediting business and industrial growth nationwide. He underscored that achieving such momentum is implausible under the prevailing annual mark-up rate of 17.50%.
Former President of the Hub Chamber, Mr. Maqsood Ismail, reinforced this standpoint. He articulated that a strategic 4% reduction in the mark-up rate would act as a catalyst for reinvigorating entrepreneurial activities and attracting fresh investments, thereby paving the way for inflationary pressures to ease.
The Chamber fervently implores the State Bank of Pakistan’s Monetary Policy Committee to deliberate on this critical adjustment in their upcoming session. Such a measure, they argue, is indispensable for steering Pakistan toward economic stabilization and sustainable growth.