Industry demands mark up into single digit | Pakistan Today

Industry demands mark up into single digit

Trade and industry has demanded of the government to reduce interest rate in the forthcoming Monetary Policy by the State Bank of Pakistan (SBP). The Korangi Association of Trade and Industry (KATI) patron in-chief S M Muneer, Chairman Ehtesham Uddin, All Karachi Industrial Alliance (AKIA) President Mian Zahid Hussain, Vice Chairmen, Hasham A Razzak, Tariq Malik and prominent industrialist Syed Johar Ali Qandhari said that SBP is scheduled to announce Monetary Policy on August 10, 2012 and Governor SBP Yasin Anwar should reduce bank interest significantly as mark up rate in Pakistan is still highest in the region. They said that due to high mark up rates in Pakistan industry is suffering badly and the volume of non-performing loans (NPLs) is increasing alarmingly. Muneer said that the State Bank of Pakistan (SBP) statistics revealed that an incremental of 10 percent or Rs 56.54 billion has been witnessed in total NPLs of banking industry during CY11 said a report.

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