Pakistan Auto Parts Manufacturers and Exporters Association, while terming the 1.5 per cent cut in markup rate, thanked the Prime Minister Syed Yousaf Raza Gillani for accepting the longstanding demand of the business community. In a press statement, Chairman of the Association Tahir Javed Malik said that present cut in markup rate was a prerequisite to enhance the productivity of industrial sector.
He said that this step taken by the State Bank of Pakistan would help strengthen the industrial sector that was facing various crises previously, and this would help boosting the exports which will contribute more towards national exchequer. Tahir Javed Malik lauded the efforts of LCCI President Irfan Qaiser Sheikh who met with the Prime Minister Syed Yousaf Raza Gillani and put up the issue of high mark rate in Pakistan. He said that though cut in mark up rates is a good omen for the trade, industry and economy but State Bank of Pakistan has to bring the markup rate down to a single digit. Chairman Pakistan Industrial and Traders Association Front (PIAF) Sohail Lashari paid rich tributes to the PM Syed Yousaf Raza Gillani for the current decrease in the markup rate. He said that this decrease would accelerate the economic activities in the country and will boost the industrial sector.
