After the International Monetary Fund (IMF) demand, the reaction of the business community came out on the big increase in the interest rate by the State Bank of Pakistan.
It should be noted that the State Bank announced the monetary policy according to which Interest rate increased from 17% to 20% has gone
However, in a conversation with Geo News, the business community expressed mixed reactions to the monetary policy.
Former Finance Minister Miftah Ismail said that it is hoped that after doing all this, an agreement will be reached with the IMF.
He also said that a serious economic policy is not visible.
Miftah Ismail said that friendly countries usually help us a lot. China should be thanked for helping Pakistan.
The former finance minister said that in this inflation, the wages of the workers will have to be increased.
He emphasized that the country needs an intelligent economic policy at this time.
Criticizing former Prime Minister Imran Khan, Miftah Ismail said that Imran Khan has broken agreements with the IMF twice.
He said that Imran Khan did not increase the price of gas for two years, it was increasing all over the world.
Apart from this, the businessman leader Zubair Motiwala said that the increase in interest rate and elimination of subsidy will increase the smuggling.
He said that the increase in interest rates was forced due to the IMF. It should be hoped that the rise in interest rates will be temporary.
On the other hand, another businessman leader Mian Zahid Hussain said that in the current situation we are in dire need of dollars.
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