Digitex

ISLAMABAD/LAHORE -Business and industrial community here on Saturday hailed the initiative of the State Bank of Pakistan to reduce policy rate by 2 percent and urged the government to further slash it down to 5 percent. They also urged the government to announce another incentives package for the revival of small and medium sized industry. In press statement, SAARC Chamber of Commerce and Industry (CCI) President designate Iftikhar Ali Malik urged the State Bank Pakistan to further cut policy rate for easy access to finance for the local industry and exporters who were confronting new challenges and uncertain conditions.He also urged the need of deferment of payment of utility bills and waiver of surcharges for at least next three years, restoration of zero-rated sales tax regime and exemption from welfare fund contributions. He said that the government’s resolve to contain the spread of virus was commendable and foreign industries were now considering relocating to Pakistan d...