ISLAMABAD - The Federation of Paki­stan Chamber of Com­merce (FPCCI) has re­jected the 1.5 percent reduction in interest rate announced by the State Bank of Pakistan.

While talking to The Nation, former senator and President of FPC­CI Haji Ghulam Ali said that the development for trade and commerce was impossible with this in­terest rate announced by the SBP.

He stated that the gov­ernment should bring the interest rate to a single digit in order to get some develop­ment in trade and com­merce. While criticising the government, he said that the current inter­est rate was dangerous than the coronavirus for Pakistan.

The former Senator also asked the govern­ment to provide relief to the people in petrol and diesel prices according to the rules and laws; adding that the price of petrol and diesel was $22 per barrel in inter­national market and the government has reduced rate to 15 rupees per lit­ter which is injustice with the people of Paki­stan.

He further elaborat­ed that price of pet­rol and diesel were re­duced to the lowest rate of 30 years and the gov­ernment should also re­duce the price per litter by Rs 40.