The All Pakistan Textile Mills Association (APTMA) has formally requested the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) to reduce the interest rate by 400 basis points. APTMA argues that such a significant rate cut is essential for invigorating the textile sector, which is currently grappling with economic pressures and competitive challenges.
The association believes that a lower interest rate would provide much-needed relief to textile manufacturers, enabling them to lower their borrowing costs and invest more effectively in their operations. This move is seen as a critical step towards enhancing the industry’s growth prospects and improving its overall financial health.
The request highlights ongoing concerns within the textile sector about high interest rates and their impact on business sustainability. APTMA’s appeal to the MPC underscores the broader need for supportive monetary policies to bolster key industries in the country.
