Islamabad: Prime Minister Shehbaz Sharif has hailed the recent reduction in the policy rate as a landmark development, asserting it will significantly boost industrial growth in Pakistan. During a federal cabinet meeting in the capital city, the Prime Minister emphasized the potential positive impacts on business, industry, agriculture, and exports due to this monetary policy adjustment. He expressed optimism that this move would stimulate investments, create job opportunities, enhance exports, and alleviate the national debt burden, thus providing much-needed fiscal space.

According to Ministry of Information and Broadcasting, the Prime Minister also shared that Azerbaijan is prepared to sign agreements worth two billion dollars with Pakistan, a message conveyed by the President of Azerbaijan. This potential partnership is viewed as a significant step in enhancing bilateral relations and economic ties between the two countries.

Additionally, the Prime Minister touched upon his recent interactions with Saudi Crown Prince Mohammad Bin Salman, who expressed his best wishes for Pakistan’s progress and development. The delegation’s upcoming visit to Saudi Arabia is expected to further strengthen relations in various fields. The Prime Minister highlighted the demand for IT workforce in Saudi Arabia and Qatar, indicating plans to receive a strategic presentation from the Ministry of Information Technology on preparing skilled workers in this sector to meet the demand.

In conclusion, the Prime Minister reiterated the government’s commitment to encouraging the business community to bolster the economy, underscoring the importance of these developments in driving national economic growth.