The Rawalpindi Chamber of Commerce and Industry (RCCI) urges SBP to move towards single-digit policy rate

The Rawalpindi Chamber of Commerce and Industry (RCCI) on Monday urged the State Bank of Pakistan to move towards a single-digit policy rate to support economic growth and ease pressure on businesses

RAWALPINDI, (APP - UrduPoint / Pakistan Point News - 15th Jun, 2026) The Rawalpindi Chamber of Commerce and Industry (RCCI) on Monday urged the State Bank of Pakistan to move towards a single-digit policy rate to support economic growth and ease pressure on businesses.

In a statement, RCCI President Usman Shaukat noted the Monetary Policy Committee’s decision to keep the policy rate unchanged at 11.5 percent, saying there was room to begin easing.

He said that the recent increase in inflation, which rose from 7.3 percent in March to 11.7 percent in May, was driven by imported energy costs rather than domestic demand.

The RCCI president repeated that easing global pressures, including a likely US-Iran truce and a decline of around 20 percent in oil prices from their 2026 peak, could help stabilise inflation in the coming months.

He said that double-digit financing costs were adversely affecting small and medium enterprises, manufacturers and exporters.

Usman Shaukat urged the central bank to reverse recent tightening measures and outline a clear path towards single-digit interest rates to boost investment, employment and exports.