Traders welcome 1.5pc cut in mark-up

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Traders welcome 1.5pc cut in mark-up

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The Lahore Chamber of Commerce and Industry and other trade bodies welcomed the cut in markup.

08 October,2011 08:45 pm

They termed 1.5 per cent reduction in interest rates as the first step towards the revival of economy and the industry.LCCI President Shahzad Ali Malik said that the step taken by the State Bank of Pakistan (SBP) would help strengthen the economic indicators, says a press statement issued here on Saturday. However, he hoped that after two months when new monetary policy would be announced, the interest rates would further be lowered to single digit.The LCCI president also thanked the Prime Minister Yousaf Raza Gilani for accepting the LCCI demand regarding drastic cut in the markup rate. He also urged the State Bank of Pakistan governor to review all other economy related policies to facilitate the business community.