Pakistan, July 27 -- As the State Bank of Pakistan (SBP) is set to announce its monetary policy decision on Monday (July 27), the Federation of Pakistan Chambers of Commerce and Industry's Businessmen Panel (BMP) has urged the central bank to consider a gradual reduction in the policy rate, saying the economy now needs greater monetary support to accelerate industrial activity, revive private investment and strengthen export competitiveness.

In a statement issued ahead of the Monetary Policy Committee meeting, BMP Chairman and former FPCCI President Mian Anjum Nisar said the policy rate had remained at 11.5%, and the upcoming decision provided an opportunity to reassess the prevailing monetary stance in light of the evolving inflationary...