The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has made a significant demand from the government and the Monetary Policy Committee to immediately cut the policy rate by 400 basis points.

According to an FPCCI declaration, the inflation rate in the country is at 9 percent, but the policy rate should be adjusted to 10 percent in line with inflation.

The FPCCI stated that an immediate 400 basis point cut in interest rates should be announced in the September monetary policy, with all chambers in the country supporting this demand for a reduction in interest rates.

It should be noted that the Federation of Pakistan Chambers of Commerce and Industry is the apex body of all the chambers