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Islamabad: Prime Minister Shehbaz Sharif stated that the recent reduction in the policy rate is expected to boost business activities, exports, and employment opportunities across the country. He made these remarks while presiding over a meeting of the Parliamentary Party of PML-N in Islamabad, highlighting the growing stability of Pakistan’s economy.
According to Ministry of Information and Broadcasting, the Prime Minister pointed out that the State Bank of Pakistan has reduced the policy rate by 250 basis points, bringing it down from 17.5% to 15%. He emphasized the significance of this reduction and its positive implications for the economic landscape. Furthermore, he noted that inflation has decreased from thirty-eight percent to seven percent, with both national and international institutions acknowledging the economic stability.
Shehbaz Sharif also addressed the challenges posed by those aiming to destabilize the nation, asserting that their efforts have been thwarted. He remarked that history will honor those who prioritized the country’s welfare over political gains. He also mentioned the historical perspective on individuals who attempted to hinder financial assistance from the IMF.
The Prime Minister highlighted the strengthening of the Pakistan-Saudi investment partnership during his recent visit to Saudi Arabia, where he engaged in discussions with Saudi leadership, including Crown Prince Mohammed bin Salman. He expressed Saudi Arabia’s commitment to supporting Pakistan’s economic development.
In his briefing to the PML-N Parliamentary Party, Shehbaz Sharif detailed the outcomes of his visit to Qatar, where the Qatari leadership pledged to increase investment in Pakistan. He specified plans for projects amounting to three billion dollars, which include investments in aviation, hoteling, IT, and energy sectors.
The Prime Minister assured that the government is prioritizing measures to facilitate and enhance foreign investment in Pakistan, implementing a comprehensive reform agenda across various sectors. He also mentioned directives to the FBR to recognize and honor taxpayers as ambassadors of Pakistan.
The meeting also involved discussions on proposed legislative bills in the National Assembly, as the PML-N Parliamentary Party was brought up to speed on legislative developments.
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