Provincial Convener of Balochistan for Awaam Pakistan Party (APP) and prominent business leader Syed Aman Shah has strongly criticized the State Bank of Pakistan’s minor reduction in the policy interest rate, saying that under current economic conditions, this cut is like a drop in the ocean and will not bring any real relief to industry, trade, or any other sector of the economy.

Syed Aman Shah said that the persistently high interest rate has already crippled business activities, led to a decline in industrial production, and brought new investment almost to a halt. In such circumstances, a minor reduction will neither restore the confidence of the business community nor bring any visible improvement in overall economic momentum.

He further stated that despite a relative decline in inflation, maintaining an unusually high interest rate is contrary to ground realities. There is an urgent need for the State Bank to announce a substantial and continuous reduction in the interest rate so that industrialists and traders can access affordable financing, employment opportunities can be generated, and exports can be boosted.

Syed Aman Shah urged the government to take into account the difficulties faced by the business community and formulate a comprehensive, business-friendly monetary policy, as a strong economy is the only guarantee for the country’s development and stability.