Karachi: Atif Ikram Sheikh, President FPCCI, has apprised that the business, industry and trade community of Pakistan is disappointed with the monetary policy as it continues to be based on a heavy premium vis- -vis Consumer Price Index (CPI) and the State Bank of Pakistan (SBP) has maintained status quo in the policy rate in its Wednesday meeting.

Atif Ikram Sheikh highlighted that the CPI, as per government's own statistics, stood at 3.20 percent in June 2025; but, the policy rate continues to be 11.0 percent as of today - which reflects a premium of 780 basis points (bps) as compared to inflation and it makes no economic sense, he added.

Atif Ikram Sheikh continued that, after deliberations from the apex trade and industry platform with all industries and sectors, FPCCI had demanded a single-stroke rate cut of 500 basis points during the Wednesday's monetary policy committee (MPC) meeting to rationalize the key policy rate; and, align it to the vision of special investment facilitation council (SIFC) - and, the Prime Minister's vision for industrial development, import substitution and export growth.