Karachi: The Korangi Association of Trade and Industry (KATI) has made an urgent appeal to the State Bank of Pakistan (SBP) and the government to reduce bank interest rates by 4% in response to the recent decline in inflation, which now stands at 9%. KATI emphasizes that this measure is critical to sustaining economic growth and stimulating business investment.

According to Korangi Association of Trade and Industry, KATI President Johar Qandhari underscored the importance of quickly lowering interest rates to spur economic activity, ease borrowing costs, and facilitate business expansion and job creation. He noted that reducing interest rates would particularly benefit small and medium enterprises (SMEs) as well as larger corporations, which are integral to the national economy.

Qandhari also argued that lower interest rates would increase consumer spending by boosting disposable income, thereby driving demand and supporting economic recovery. He has called on the SBP and the government to act swiftly to ensure the economic recovery continues, highlighting the necessity of timely interventions to aid both the business community and consumers across Pakistan.