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Business leaders criticise hike in interest rate
KARACHI: Karachi Chamber of Commerce & Industry (KCCI) President Talat Mahmood has strongly opposed the State Bank of Pakistan’s decision to increase the policy interest rate by 50 basis points, from 11.5 percent to 12 percent, warning that the move will further increase the cost of doing business, discourage private-sector investment and undermine efforts to accelerate economic growth. Expressing serious concern over the decision, Mahmood stated that the prevailing inflationary pressures were largely attributable to rising energy and fuel prices, geopolitical uncertainty, supply-chain dis...
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