Mohammad Ali praises government's rate cut for economic revitalization

In a recent development, Mohammad Ali, a prominent figure in the business sector, has lauded the government's decision to reduce the discount rate by 150 basis points. Ali, who previously served as the chairman of the Khyber Pakhtunkhwa Textile Mills Association and as a Federal minister, has expressed his approval of this move, citing its potential to revitalize the economy.

Ali's endorsement of the government's initiative stems from his belief that lowering the mark-up will have far-reaching benefits for businesses and the overall economic landscape. By easing financial burdens on enterprises, this reduction is expected to encourage fresh investments, paving the way for growth and innovation.

Moreover, Ali has urged the authorities to consider additional measures to amplify the positive impact on economic activity. He has specifically recommended a reduction in gas and electricity prices to complement the lowered interest rates. This adjustment would enable businesses to trim their operational costs, thereby enhancing their competitiveness in both local and global markets. The resulting boost in industrial output, coupled with increased foreign investments, is poised to drive sustainable economic progress.

Mohammad Ali's support for collaborative efforts between the government and the business community underscores the shared goal of advancing economic prosperity. The decision to decrease the discount rate marks a significant stride towards fostering a conducive environment for business growth and development.