Islamabad: (RightNow). Former federal ministers Asad Umar and Miftah Ismail have supported the State Bank of Pakistan’s decision to maintain the policy rate at 11.5%. They stated that this decision is beneficial for the economy.

Miftah Ismail mentioned that stability in the policy rate is advantageous for economic activities. According to him, increasing the interest rate could negatively impact business and investment.

Asad Umar also welcomed the decision to maintain the policy rate, stating that due to recent increases in oil prices, this decision is timely.

He remarked that raising the interest rate could pressure economic activities, so maintaining the policy rate is appropriate.

It is noteworthy that the State Bank has announced the policy rate will remain at 11.5%. This decision was made in light of high inflation and fluctuations in global oil prices.