Prime Minister Shehbaz Sharif on Thursday welcomed the State Bank of Pakistan’s (SBP) decision to reduce the policy rate by 2%, lowering it from 19.5% to 17.5%. He expressed optimism that this move would stimulate exports, investment, business, agriculture, and overall economic growth in the country. While presiding over a meeting of the federal cabinet committee, the prime minister expressed hope that the policy rate could gradually decrease to single digits, in line with the country’s inflation rate. Speaking on the ongoing discussions with the International Monetary Fund (IMF), he noted that the negotiations were progressing smoothly.

Credit: Independent News Pakistan