Lahore Chamber of Commerce and Industry (LCCI) has urged the State Bank of Pakistan (SBP) to bring down markup rates to inject energy to the industrial sector.

LCCI President Mian Nauman Kabir, Senior Vice President Mian Rehman Aziz Chan and Vice President Haris Ateeq told the media that the recent hike in policy rate would affect the trade and industry.

They said the business community would not be able to get cheap money that would also halt the industrial expansion.

They said we were expecting cut in markup rates in the context of high cost of doing business but the policy rate was again raised by 150 basis points.