Gohar Ejaz calls for 4 percent cut in interest rate

Former Caretaker Federal Minister Gohar Ejaz Tuesday urged the government to reduce the interest rate by 4% in the upcoming monetary policy meeting, as inflation has decreased to 9.6% in August, reported 24NewsHD TV channel.

Ejaz emphasized the need to lower the interest rate to 9% within this year to encourage investment in businesses rather than bank deposits.

He also called for relief measures for the salaried class and exporters, suggesting a 10-year economic roadmap for every sector.

The former minister stressed that economic stability should be achieved by boosting exports rather than relying on internal and external loans.

He also advocated for reducing electricity rates to Rs 25 per unit for all consumers and abolishing taxes and capacity payments on electricity not supplied by Independent Power Producers (IPPs) to support the economy.