Balance of interest

In order to give a boost to the economy, the State Bank of Pakistan has reduced interest rate from 13 percent to 9 percent. This is a wise decision where corona outbreak has badly affected the economy globally.

On the other hand , the middle class (mostly the retirees) have deposited their hard-earned money in the National Savings schemes and banks to get monthly profit to run their kitchens. They will suffer with this reduction in profits. The incumbent government must create a balance while deciding further reduction in interest rates.

Engr Asim Nawab

Islamabad