The business community has welcomed the decision of the State Bank of Pakistan (SBP) to maintain the policy rate and called for slashing it further in a bid to boost economic activities in the country. Speaking at a meeting on Monday, Pakistan Carpet Manufacturers and Exporters Association (PCMEA) Senior Vice Chairman Riaz Ahmed said if the vision, discussed by SBP Governor Reza Baqir on Friday, was implemented in its true spirit, then the business community would welcome it. “However, some conditions put forward by the central bank are causing difficulties in the export of handmade carpets, which should be removed immediately,” he said. “Pakistan’s hand-woven carpets have a unique identity across the world but due to unfavuorable conditions, other countries are strengthening their hold in the global market in this segment.”

Published in The Express Tribune, January 26th, 2021.

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