Islamabad, Mar 10 2025: Salim Valimuhammad, Chairman of the Pakistan Chemicals & Dyes Merchants Association (PCDMA), has strongly opposed the State Bank of Pakistan’s (SBP) decision to maintain the interest rate at 12%.
Calling for a substantial reduction to support economic expansion. Expressing disappointment, he criticized the central bank’s stance, arguing that it fails to reflect the improving economic conditions and declining inflation in the country.
In an official statement, Salim Valimuhammad stated, “We had expected a significant cut in the interest rate this time. However, by keeping it at 12%, the central bank has shattered the business community’s expectations.”
He stressed that high interest rates would discourage investment, hinder economic growth, and slow down commercial activities.
The Pakistan Chemicals & Dyes Merchants Association (PCDMA) Chairman further urged the government to ensure access to loans at lower interest rates, enabling businesses to expand operations and stimulate economic progress.
He emphasized that business-friendly monetary policies are essential for attracting investment and fostering industrial growth.
Appealing directly to the Governor of the State Bank, he urged authorities to reduce the interest rate to a single digit, facilitating affordable financing options for traders and creating a more business-conducive environment.
He reiterated that lowering borrowing costs would help revitalize the economy by encouraging business expansion, boosting employment, and increasing overall productivity.
