By Our Correspondent
LAHORE: – Sheikh Muhammad Ibrahim, chairman of the Founders Group, has criticized the recent minor reduction in the State Bank of Pakistan’s interest rate, calling it “a drop in the ocean,” and said it is insufficient to boost business activity and investment amid current economic challenges.
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He urged that the interest rate be immediately brought down to 7–8 percent to stabilize the economy, revive industry and trade, and create more employment opportunities.
Sheikh Ibrahim highlighted that high interest rates are putting industrialists and traders under severe pressure, raising production costs, halting new investments, and negatively affecting exports. He stressed that if the government truly aims for economic improvement and growth, it must adopt business-friendly policies and make a significant, effective reduction in interest rates.
Appealing to the country’s economic team, he said decisions must reflect ground realities to restore the confidence of the business community. According to him, lower interest rates are the key to running the industrial wheel, supporting SMEs, and accelerating overall economic growth.
The Founders Group demanded that the government and the State Bank take immediate coordinated steps to revive business activities, increase exports, and put the economy back on the path of sustainable growth.
