Islamabad: Hafiz Naeem-ur-Rehman, Emir of Jamaat-e-Islami Pakistan, stated that if the interest rate were reduced by 3 percent, there would be no need to impose a levy; a 1 percent reduction in interest rates would result in savings of 594 billion rupees.
Addressing a press conference in Islamabad, Hafiz Naeem noted that Jamaat-e-Islami had put forward six proposals, including a reduction in interest rates. He remarked that while the Constitution mandates the elimination of interest, preparations are instead being made to perpetuate it, and urged that the interest rate be brought down to 9 percent in the first phase.