Prime Minister Muhammad Shehbaz Sharif on Tuesday welcomed the central bank’s decision to cut policy interest rates from 2% to 13%, calling it a step to boost investment and accelerate economic growth.
The prime minister, who chaired a cabinet meeting in Islamabad, said the rate cut would encourage businesses and investors, describing it as a “good sign” for the country’s economy.
“Taking advantage of the good news in the economy, we must promote domestic investment. As a result, foreign investment will automatically come to the country,” he said.
The prime minister also said that inflation, a key indicator of economic recovery, has fallen to its lowest level since 2018. He said that the government has finalized its economic plan at home which will be presented at a special event soon.
The meeting began with prayers for Siddique-ul-Farooq and the policemen who were martyred in a terrorist attack on a group of polio workers in Karak.
Shehbaz Sharif expressed concern over Pakistan’s polio eradication efforts. He emphasized the commitment of the government to overcome the challenges and protect Pakistan from polio.
The Prime Minister also expressed deep sorrow over the death of a Pakistani in a boat accident near Greece. He said the government is taking necessary measures to support the affected families.
With rising economic optimism, the Cabinet meeting highlighted the government’s focus on boosting growth and addressing ongoing challenges.
