{"id":57814,"date":"2019-11-20T17:23:32","date_gmt":"2019-11-20T12:23:32","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=57814"},"modified":"2019-11-20T17:25:27","modified_gmt":"2019-11-20T12:25:27","slug":"icci-requests-reduction-interest-rate","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/icci-requests-reduction-interest-rate.html","title":{"rendered":"ICCI requests reduction in interest rate to boost business activities"},"content":{"rendered":"<p>Islamabad: The Islamabad Chamber of Commerce &amp; Industry (ICCI) has requested the federal government to reduce the interest rate to a single digit in order to facilitate the revival of business activity within the country, a news source reported.<\/p>\n<p><strong>Read<\/strong>:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/oicci-survey-shows-improved-foreign-investor-confidence-in-pakistan.html\" target=\"_blank\" rel=\"noopener noreferrer\">OICCI survey shows improved foreign-investor confidence in Pakistan<\/a><\/p>\n<p>The ICCI officials said that high interest rates impeded the growth of business activities. This, in turn, kept the economy in a stagnant mode, they added. The senior ICCI leadership stated that high interest rates had increased the cost of doing business \u2013 slowing down business and investment activities in the country.<\/p>\n<p>The officials noted that the policy rate of 13.25% was making borrowing from banks costly, which made it inconvenient for investors to secure credit facilities from banks for expanding existing businesses, and <a href=\"https:\/\/www.zameen.com\/news\/icci-asks-govt-channel-remittances-investment-instruments.html\" target=\"_blank\" rel=\"noopener noreferrer\">investing<\/a> in new start-ups.<\/p>\n<p><strong>Read<\/strong>:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/icci-demands-fixed-tax-rates-to-facilitate-traders.html\" target=\"_blank\" rel=\"noopener noreferrer\">ICCI demands fixed tax rates to facilitate traders<\/a><\/p>\n<p>To facilitate the government\u2019s ease-of-doing business initiative, the ICCI has requested the State Bank of Pakistan (SBP) to cut down the key interest rate to the single digit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Islamabad Chamber of Commerce &amp; Industry (ICCI) has requested the federal government to reduce the interest rate to a single digit in order to facilitate the revival of business activity within the country, a news source reported. Read:\u00a0OICCI survey shows improved foreign-investor confidence in Pakistan The ICCI officials said that high interest rates impeded the growth of business activities. This, in turn, kept the economy in a stagnant mode, they added. The senior ICCI leadership stated that high interest rates had increased the cost of doing business \u2013 slowing down business and investment activities in the country. The officials noted that the policy rate of 13.25% was making borrowing from banks costly, which made it inconvenient for investors to secure credit facilities from banks for expanding existing businesses, and investing in new start-ups. Read:\u00a0ICCI demands fixed tax rates to facilitate traders To facilitate the government\u2019s ease-of-doing business initiative, the ICCI has requested the State Bank of Pakistan (SBP) to cut down the key interest rate to the single digit.<\/p>\n","protected":false},"author":68,"featured_media":41097,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[14048],"persona":[],"class_list":{"0":"post-57814","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-details-on-icci-requests-reduction-in-interest-rate"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ICCI requests reduction in interest rate to boost business activities - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Islamabad Chamber of Commerce &amp; 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