KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh has urged the State Bank of Pakistan (SBP) to immediately bring down its policy rate to 15 per cent to enable local exporters to compete on the regional and international markets with reduced cost of capital.

He added that this step should be accompanied by fulfilling the government’s promise to rationalise electricity tariffs for the industry and renegotiating contracts with independent power producers (IPPs).

In a statement issued on Monday, he said the policy rate cuts announced over the last two monetary meetings are too little, too late, as the business community was........

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