APBF welcomes SBP decision

LAHORE: All Pakistan Business Forum (APBF) President Ibrahim Qureshi has welcomed the State Bank of Pakistan decision to cut policy rates by 0.25 percent to spur growth, saying the the decision would infuse confidence in the business community and propel economy, which was hostage to the past policy of austerity.

Some quarters have been criticising the SBP decision, citing reduction in the profit rates of depositors who are overlooking the factor that the economic revival is linked to agriculture and industry and not savings, he said.