Prime Minister Shehbaz Sharif welcomed the State Bank of Pakistan’s (SBP) decision to cut the policy rate by 2 per cent, reducing it from 19.5 per cent to 17.5 per cent. He expressed hope that this move would boost exports, investment, business, agriculture, and overall economic growth. While presiding over a federal cabinet committee meeting, he also anticipated that the policy rate could eventually drop to single digits, aligning with the country’s inflation rate.
On negotiations with the International Monetary Fund (IMF), PM Sharif noted that discussions were progressing smoothly. He thanked friendly nations for their continued support, which has helped Pakistan meet the requirements to secure an IMF loan.
The prime minister highlighted efforts to stabilize the macroeconomic situation and expressed the government’s commitment to driving GDP growth. He acknowledged the finance ministry, related departments, and Pakistan’s ambassador to China for their roles in securing international support.
Condemnation of Israeli Atrocities in Palestine
PM Sharif also condemned Israel’s continued violence against Palestinians, calling on the international community to intervene and stop Israel’s war crimes. He criticized the killing of six United Nations relief mission staff members and 17 Muslims in Gaza by Israeli forces, describing these acts as barbaric.
