Saquib Fayyaz Magoon
Coverage of Saquib Fayyaz Magoon in the Nexus archive.
- Policy rate pause splits stakeholders
The State Bank of Pakistan maintained its policy rate at 11.5%, drawing praise from foreign investors for providing economic breathing space but criticism from local business groups who argue it stifles industrial recovery. Stakeholders highlighted conflicting views, with OICCI supporting the decision amid improved macroeconomic conditions and FPCCI labeling it contractionary, citing elevated costs and competitiveness challenges.
- Business circles disappointed over SBP rate pause
The business community in Pakistan expressed disappointment over the State Bank of Pakistan's (SBP) decision to maintain the policy rate at 11.5%, urging a rate cut to support industrial recovery, exports, and investment. Organizations like the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and others argued that the unchanged rate hampers economic growth and competitiveness.
- CORPORATE WINDOW: No relief measures expected
The upcoming budget is expected to focus on export-led growth and fiscal consolidation under IMF pressure, with limited relief for essential commodities and petroleum products. Rising production costs from Middle East geopolitical tensions and unaffordable fuel prices are exacerbating consumer struggles, while revenue targets and tax measures remain priorities.