Gohar Ejaz demands cut in interest rate
Former caretaker federal minister Gohar Ejaz demanding cut in interest rate said State Bank should bring interest rate to 9 percent in next monetary policy, reported 24NewsHD TV channel on Thursday.
In a tweet, Gohar Ejaz questioned “Why was interest rate kept at 11 percent with inflation below 5 percent?
The burden of boom-bust cycle should not be put on interest rate, Gohar Ejaz said.
Did high interest rate make oil expensive in the global market? Gohar Ejaz questioned. This never happened, former federal minister Gohar Ejaz added.
Gohar Ejaz said the reason for the $17.5 billion trade deficit in fiscal year 2022 was the increase in oil prices.
He said one of the reasons for the increase in trade deficit in fiscal year 2022 was the import of vaccines.
Stop Blaming Interest Rates
— Dr Gohar Ejaz (@Gohar_Ejaz1) July 24, 2025
The $17.5 billion trade deficit in FY22 was driven by rising oil prices and vaccine imports — not by consumer goods imports or low interest rates. The State Bank must cut the policy rate to 9% in the upcoming monetary policy meeting.
Stop blaming… pic.twitter.com/j3zp0Sg4jw
Reporter: Waqas Azeem