PCDMA Chairman Saleem Mukati calls for a single-digit interest rate, saying lower borrowing costs could stimulate industrial growth, trade and employment.

KARACHI, October 21, 2026: The Pakistan Chemicals & Dyes Merchants Association (PCDMA) has urged the State Bank of Pakistan (SBP) to reduce its policy rate to single digits to revive economic activity and ease financial pressures on businesses.

In a statement, PCDMA Chairman Saleem Mukati called on SBP Governor Jameel Ahmed to consider a significant rate cut at the Monetary Policy Committee (MPC) meeting scheduled for October 26, 2026.

Mukati said the prevailing high interest rate had become a major obstacle for businesses, limiting access to capital and constraining industrial and commercial activity.

He argued that reducing the policy rate could provide fresh momentum to industry and trade, improve business financing conditions and support economic growth.

Referring to global economic uncertainty and the challenges confronting Pakistan’s industrial sector, the PCDMA chairman questioned the effectiveness of maintaining high interest rates solely to control inflation. He said the resulting financial burden fell heavily on traders and industrialists.

Mukati urged the central bank to take the business community’s concerns seriously and adopt a monetary policy that supports economic stability and recovery.

He added that lower borrowing costs could encourage investment, accelerate economic activity and create new employment opportunities while easing the financial difficulties faced by businesses.

The PCDMA chairman expressed hope that the MPC would consider the industry’s concerns and announce a positive decision to support economic recovery.

The association believes a substantial reduction in the policy rate would help improve business confidence and strengthen Pakistan’s industrial and commercial sectors.