Ismail Suttar, President of Lasbela Chambers of Commerce & Industry (LCCI), in a Press Statement issued today has said that the recent proactive measures offered by State Bank of Pakistan to exporters is timely and will address the liquidity crisis situation and provide genuine support to industries.

He says, earlier when interest rates were slashed by 75 basis points, business community erupted but now with corrective Long-term Fixed Financing and Sales Refund Measures at place, all the hue and cry has transformed into hope for both small and big businessmen including manufacturers and exporters.

Ismail Suttar claimed that now it seems easier through longer credit borrowing terms and lower interest for industrialists to purchase equipment at affordable 7 percent lease on a 10 years’ period and we are grateful to the State Bank of Pakistan for putting needs of manufacturers first.

However, given the current economic situation, Ismail Suttar has called for central bank to further cut policy rate to around 9.5 percent, which will further improve the competitive level of our exports in the international markets.