APTMA Patron Gohar Ejaz Urges State Bank to Slash Interest Rate to 6% in Upcoming Monetary Policy

LAHORE:Former Federal Minister for Commerce and Patron-in-Chief of the **All Pakistan Textile Mills Association (APTMA)**, **Gohar Ejaz**, has called on the State Bank of Pakistan (SBP) to bring down the **interest rate to 6%**, citing it as essential for national economic growth and business revival.

In a strongly worded statement issued on Sunday, Ejaz said that **Pakistan’s interest rate remains among the highest globally**, creating significant obstacles for the **business community**, which holds **serious reservations** about the prevailing monetary policy.

“The State Bank must change its mindset,” he emphasized. “The interest rate should be reduced to **6% in the Monetary Policy Committee’s decision scheduled for July 30**.”

Gohar Ejaz argued that lowering the interest rate would not only stimulate **economic activity**, reduce **business costs**, and create **employment opportunities**, but also help the government **save Rs. 30 trillion** in interest payments. He stated, “The current policy is **blocking the path to economic progress**.”

Highlighting the disparity, he noted: “How can an **11% interest rate** be justified when the **annual inflation rate stands at just 5%**? It defies economic logic.”

Ejaz further stressed that the **industrial sector** is urging the Monetary Policy Committee to prioritize **economic growth and industrial expansion** over tight monetary controls. A lower interest rate, he said, would **boost productivity**, **attract investment**, and strengthen the **export sector**, especially textiles.

Business leaders and economists across the country are closely watching the upcoming monetary policy decision, as pressure mounts on the central bank to align interest rates with inflation and growth targets.