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December 8, 2019

Ease in business?

Newspost

 
December 8, 2019

This refers to the editorial, ‘Hoping for better’ (December 6). With 13.25 percent interest rate unchanged, how can inflation be controlled? People are not interested in receiving a good rating by foreign credit agency but they do want relief; the government in the meanwhile is considering hikes in power and gas tariffs.

Tillcost of business and interest rate are reduced, the people will only see more miseries. From year 2018 till 2019, debt has been raised to Rs41 trillion; so over one year we have added Rs11 trillion in debt. On average, we have taken Rs30 billion debt every single day as reported. Excessive public debt means higher rates of interest. If that is the case, investors will never invest. The fact is that the government’s claims are not supported by facts. The business community is not prepared to invest until their demand of cut in rates and cost of doing business is met.

Mukhtar Ahmed

Karachi

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