Latest news with #SyedAmanShah
Business Recorder
01-08-2025
- Business
- Business Recorder
‘SBP's decision to maintain 11pc interest rate harmful to growth'
KARACHI: Syed Aman Shah, Provincial Convener of the Awaam Pakistan Party Balochistan, has strongly criticized the State Bank of Pakistan's decision to maintain the policy interest rate at 11.0 percent, calling it detrimental to the country's economic growth. He stated that regions like Balochistan, which are already facing significant socio-economic challenges, are being pushed further into crisis by this excessively high interest rate, which negatively affects industrial, agricultural and business activities. Syed Aman Shah emphasized that with the Consumer Price Index (CPI) now reduced to 3.20 percent, there is no justification for keeping the policy rate at such a high level. He said this wide gap leads to increased business costs, restricts access to finance, and demoralizes the private sector across the country. He reiterated the clear demand of the Awaam Pakistan Party: the policy rate must be cut by at least 600 basis points to improve the investment climate, reduce the cost of doing business, and promote exports. Highlighting the local context, Syed Aman Shah said that small and medium enterprises (SMEs) in Balochistan are already struggling due to poor access to finance and lack of infrastructure. A persistently high interest rate only deepens their crisis and restricts opportunities for growth and job creation. He urged both the federal government and the State Bank of Pakistan to urgently review the monetary policy and make decisions that reflect on-ground economic realities, so that a path toward inclusive development and national prosperity — particularly for underserved regions like Balochistan — can be ensured. Copyright Business Recorder, 2025
Business Recorder
15-07-2025
- Business
- Business Recorder
Sugar imports, exports: ‘Govt's handling inflicts billions of rupees in losses'
KARACHI: Syed Aman Shah, Provincial Convener Balochistan of the Awam Pakistan Party, has said that the government's manipulative handling of sugar imports and exports has inflicted billions of rupees in losses on the national exchequer and crushed the public under unbearable costs. Syed Aman Shah said that when the government allowed sugar exports in October last year, it had decided that if the retail price of sugar exceeded Rs.145.15 per kg, exports would be halted immediately. However, from December 2024 to February 2025, sugar continued to be exported while prices kept rising, yet exports were not stopped. Now, by allowing the import of 500,000 metric tons of sugar, the federal government has once again given the sugar mafia a license to fill their coffers and push the public deeper into misery. He accused that the sugar was first hoarded artificially to raise prices and then sold it at exorbitant rates, making billions. The constant rise in sugar prices has now become a grave crisis. The real cause of this price surge is government incompetence, flawed policies, and its alliance with the sugar hoarders. Copyright Business Recorder, 2025
