Hafeez Shaikh asked to lower interest rate to mitigate coronavirus impact
Summary
ISLAMABAD: Adviser to Prime Minister on Finance Abdul Hafeez Shaikh on Saturday chaired a meeting of think tank on economic affairs to discuss coronavirus impact on economy and efforts needed to mitigate its risks, ARY NEWS reported. The participants stressed upon the need to bring reforms in monetary, banking and financial affairs and small and medium enterprises (SME) sector. He said that under the plan, United States Dollar (USD) 1.80 billion debt payment could be postponed for a year. The meeting also called for transferring advantage of low global fuel price to the masses other than facilitating the lower segments and small businesses at the time of the pandemic. It was informed that the decision on achieving difficult FBR tax targets was postponed and would be taken after further deliberations.