High markup rate hampers exports: Wattoo promises to present summary before Cabinet soon.

Byline: MUHAMMAD RIAZ

The existing high interest rates have not only enhanced the cost of business but also left negative impact on the competitiveness of the local industrial products in the international market. Keeping in view this aspect, a summary, suggesting cut in the interest rate will be presented before the Federal Cabinet for its approval in shortest possible time.

The Federal Minister for Industries and Production Mian Manzoor Ahmad Wattoo revealed this while speaking at Lahore Chamber of Commerce and Industry here on Monday. He said the government had the understanding those three big issues, including electricity load shedding, gas shortage and …