Prime Minister Shehbaz Sharif welcomed the State Bank of Pakistan’s decision to reduce the policy rate by 2%, terming it a positive step for the country’s economy. He expressed optimism that the interest rate cut will boost investor confidence and increase investments in Pakistan.
“Reducing the policy rate is a welcome move for our economy. It will boost investor confidence and lead to higher investment,” Sharif said, adding that the recent fall in inflation has allowed this adjustment and he hopes that inflation continue to increase. decline in the coming months. The official interest rate now stands at 17.5%.
During a cabinet meeting on Thursday, the prime minister praised the efforts of Finance Minister Muhammad Aurangzeb and other key institutions, saying: “The efforts to revive the economy are commendable and the reduction in interest rates will benefit all.” sectors”.
Sharif also spoke about the ongoing discussions with the International Monetary Fund (IMF), noting that “we have made all possible efforts and the talks for the next program are progressing well. Once the program is resolved, we will take steps to improve the growth”.
He further highlighted the need for significant reforms in the power sector and the Federal Board of Revenue (FBR), stating that Ahsan Langrial has been entrusted with the task of overseeing the FBR reforms.
On foreign relations, the prime minister acknowledged the support of Pakistan’s allies during negotiations with the IMF. “Our friendly nations have once again stood by us as brothers, repeating their historic support for Pakistan.”
Sharif also highlighted the importance of reducing dependence on foreign loans. “We are a nuclear power and constantly borrowing undermines our importance. The government is working hard on this issue.”
Turning to international affairs, the prime minister condemned Israeli aggression in Gaza, describing it as “one of the darkest chapters in human history.” He criticized the global community for its inaction, saying: “Israel has ignored the UN, the Security Council and international courts, but world powers remain silent.”
He also highlighted the recent murder of six UN volunteers in Gaza and said: “If this had happened anywhere else, there would have been an uproar. Today, 17 more Muslims were martyred in Gaza. We condemn Israeli brutality, but this issue has gone too far.” Beyond condemnation, global conscience must act.”
