RAWALPINDI - President RCCI Ali Raza Saeed Shah on Saturday rejected the SBP decision to increase discount rate from 13pc to 13.5 per cent. He termed that the decision would harm the industrial growth and it would affect the exports of the country as well. Syed Ali Raza said that half per cent rise in the discount rate would bring the remaining industries on the verge of collapse. He expressed these views while talking to a delegation of industrialists here at his office on Saturday. SVP M Ateeq, VP Dr Shimail Dawood and members of the Executive Committee were also present on the occasion. He said that it seemed that government neither understood business communitys problems nor interested in making serious efforts to resolve them. Every step of the government and SBP is not business-friendly as every time they just increase interest rates, power and gas tariffs, he added. He further said that industrial sector is facing immense problems owing to the prevailing global crunch and increase of 0.5pc in discount rate would badly affect not only the countrys industry but would also become a cause to price hike of daily use commodity. RCCI president was of the view that the prices of all commodities manufactured locally or imported would further go up adding to the sufferings of poor masses. He said that industrialists are already facing closure of units due to prevailing law and order conditions, increasing power and gas tariffs, GST issue, increase in yarn prices and may other problems.