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Express Tribune
27-07-2025
- Business
- Express Tribune
Gohar Ejaz seeks major interest rate cut
With the Monetary Policy Committee (MPC) set to meet on July 30 (Wednesday), former caretaker commerce minister Dr Gohar Ejaz has warned that Pakistan's current interest rate is crippling economic growth. He pointed out that the country's 11% policy rate against a 3.2% inflation rate results in a punitive real interest rate of 7.8%, nearly double India's 3.4% and over five times China's 1.4%. In a post on X, Dr Ejaz, who also chairs the Economic Policy & Business Development Think Tank, compared regional economic conditions, noting that Pakistani businesses are paying double the financing costs of their regional counterparts while also facing electricity rates of 12-14 cents per kWh, compared to 59 cents in neighbouring countries. "Pakistani businesses pay double regional financing costs while facing electricity at 12-14 cents/kWh versus 5-9 cents regionally," Dr Ejaz wrote in a post on X. Meanwhile, he highlighted, unemployment in Pakistan stands at a staggering 22%, in contrast to 4.2% in India and 4.57% in China. Referring to the country's previous macroeconomic volatility, he wrote: "The 2022 boom-bust cycle with $17.5 billion current account deficit was not caused by low interest rates but by $3 billion vaccine imports and $12 billion in higher oil and gas payments due to Ukraine war-induced global energy price spikesfactors completely unrelated to domestic interest rates." Dr Ejaz argued that fiscal and monetary policies appear to be working at cross purposes. "FBR targets 18% revenue increase while monetary policy suppresses the business activity generating taxes. State Bank reserves rose $5.4 billion to reach $14.46 billion (as of 18th July 2025) through borrowingnot exports or productive growth." Calling for urgent reforms, he suggested cutting the policy rate to 9% immediately and to 6% by 31st December 2025.
Business Recorder
11-05-2025
- Business
- Business Recorder
Operation Bunyan-un-Marsoos: Pakistan Army wrote ‘indelible chapter', says Gohar Ejaz
Former caretaker Federal Minister and chairman Economic Policy & Business Development Think Tank Gohar Ejaz said that Pakistan armed forces have written an indelible chapter in history—marked by professionalism, strategic foresight, and the unwavering defense of the homeland against hostile designs. Ejaz while congratulating the Army Chief General Syed Asim Munir said that his vision has delivered a powerful message of unity, peace, and steadfastness to the entire nation. 'You are not only a bold and fearless military commander, but have also emerged as a beacon of national confidence and integrity for Pakistan. Under your command, the Pakistan Armed Forces have written an indelible chapter in our history—marked by professionalism, strategic foresight, and the unwavering defense of our homeland against hostile designs', Ejaz added. Pakistan armed forces delivered 'textbook' response to Indian aggression: DG ISPR Ejaz also paid profound tribute to Air Chief Marshal Zaheer Ahmed Babar Sidhu, saying that his exemplary leadership in strengthening Pakistan's defense institutions has greatly contributed to the national sovereignty and self-reliance. 'Your decisive and unmatched response to aerial aggression showcased the exceptional skill and professionalism of the Pakistan Air Force. By defending our airspace and neutralizing enemy threats, you demonstrated that Pakistan's skies remain unbreachable under your command', Ejaz added. Former minister said that in current scenario , the unwavering support extended by China across all fronts is a testament to a relationship that goes far beyond politics and diplomatic relationships—one built on unshakable trust and enduring solidarity. Surprisingly, Pakistan and India agree to ceasefire The execution of Operation Bunyan un Marsoos was not merely a military campaign; it was a profound expression of national ideology, discipline, and loyalty. It reignited pride and confidence in every Pakistani heart and symbolized the defense of a free, sovereign, and dignified state, Ejaz said.
