President Zardari for Further Cut in Policy Rate to Boost Economy 

In order to improve the country’s economy, President Asif Ali Zardari has called for providing a business-friendly environment by further rationalizing the interest rate, providing cost-effective energy, and supporting export-oriented industries.   He urged the business community to invest in the country’s stock exchange, besides focusing on industries that support small and medium enterprises and provide jobs to people.   The president expressed these views while addressing the 12th Federation of Pakistan Chambers and Commerce and Industry (FPCCI) Excellence Awards ceremony, held at Aiwan-e-Sadr.   The ceremony was attended by members of the business community, and senior government officials. Speaking on the occasion, the president said that high interest rates were not beneficial for the country’s economy and businesses.   The president said that he would ask the government to consider reducing the policy rate to boost business activities. He stated that a comprehensive approach was required to steer the country out of its economic challenges.   Recalling his previous tenure, he highlighted that despite security challenges and the war on terror, his economic policy of supporting export-oriented industries and providing cost-effective energy led to an increase in the country’s exports.   He said that steps should be taken to provide cost-effective electricity, land and other facilities to help promote trade and industry. He urged the business community and entrepreneurs to continue to actively contribute towards the economic transformation of the country.   He appreciated FPCCI for awarding Excellence Awards to the country’s top businesses to inspire healthy competition. He urged FPCCI to provide its valuable input to help develop policies that promote exports and stimulate domestic industries.   The president also distributed the 12th FPCCI Excellence Awards among members of the business community for their outstanding performance and contributions to the economy.