Ikhtiar Baig hails PM’s relief package

KARACHI: Former SVP FPCCI Dr Mirza Ikhtiar Baig has hailed PM Imran Khan’s economic relief package to counter the negative impact of coronavirus to the masses.

Dr Baig appreciated reduction in SBP policy rate by 1.5 per cent to 11 per cent from 12.50 per cent by the SBP, saying it would release the financial burden on trade and industry under the lockdown situation.

He said it would also benefit Rs 300 billion yearly to the government due to reduction in the markup payments on govt loans. Dr Baig repeatedly advised economic team to reduce the policy rate to single digit to support stock exchange and national economy in this crucial situation due to epidemic. He also appreciated reduction of petrol and diesel prices up to Rs 15 per liter which would help the common man and ultimately would reduce the inflation.