Islamabad: Prime Minister Shehbaz Sharif has welcomed the recent decision by the State Bank of Pakistan to decrease the policy rate by two percent, asserting that this move will bolster the business environment and overall economy of Pakistan. During a Federal Cabinet meeting convened today in Islamabad, the Prime Minister detailed that the policy rate has been reduced from 19.5 percent to 17.5 percent, marking a significant step towards economic improvement.
According to Ministry of Information and Broadcasting, the Prime Minister expressed optimism about the ongoing negotiations with the International Monetary Fund, noting that the talks are moving forward positively. He also extended gratitude towards friendly nations for their continued overwhelming support to Pakistan.
In his address, Shehbaz Sharif emphasized the urgency of freeing the country from debts and setting it on a path of self-reliance. He highlighted ongoing government efforts to implement reforms within the power sector and the Federal Board of Revenue as part of this broader initiative.
Furthermore, the Prime Minister reiterated his condemnation of the ongoing violence in Israel against Palestinians, labeling it a dark chapter in human history. He expressed disappointment over the lack of global response to the crisis and called for the international community to intervene and halt these atrocities.