ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif on Monday welcomed the State Bank of Pakistan’s decision to reduce the policy rate by one percent, stating that it would provide much-needed relief to traders and investors.

In a statement, the prime minister noted that the reduction in the policy rate was a positive development for the country’s businesses, industries, agriculture, investment, and exports. He emphasized that the move would support the economic activities across various sectors.

The prime minister highlighted that the inflation rate in Pakistan had decreased to 0.30% in April. This reduction in inflation was viewed as a favorable sign for the country’s economy.

Shehbaz Sharif expressed optimism about the current economic indicators, asserting that they were moving in a positive direction. He stated that the national economy was progressing on solid foundations.

Furthermore, the prime minister acknowledged the efforts of the federal finance minister and his team in steering the country’s economic recovery. He commended their dedication to improving the economic situation in Pakistan.

The press release was issued by the Ministry of Information and Broadcasting.