ISLAMABAD: Leader of the House in the Senate Syed Shibli Faraz has said that the inflation is coming down and if this trend continues, there definitely would be a cut in interest rate.
In an exclusive interview with the state-run news agency here, he said that high-interest rates were also affecting stocks as the investors preferred to keep their money in banks for high interest rates instead of venturing for risky businesses.
He said the things were moving on the right direction and expected that the SBP would reduce interest rates after June this year.
For exploiting the conducive export environment, the leader of the house said that there was dire need to increase production for uplifting industrial growth.
He said that textile is a major commodity in the country’s exports and added, “We need to enhance the production in textile, flour and sugarcane for exporting surplus items to increase our exports.”
He said that because of sound economic policies of the government, country’s exports increased in the last eight months and now trade deficit has also declined.
