PTBP Web Desk

Prime Minister Shehbaz Sharif welcomed the State Bank of Pakistan’s (SBP) decision to reduce the interest rate by 2%, bringing it down to 13%. Speaking at the federal cabinet meeting on Tuesday, the Prime Minister highlighted that this measure is expected to boost domestic investment and spur economic growth.

He emphasized that the interest rate cut would create a favorable environment for businesses and investors, terming it a positive development for the country’s economy. Sharif stressed the importance of focusing on domestic investment as a catalyst for attracting foreign investments.

“In light of the economic progress, our priority should be encouraging local investors. This will naturally pave the way for international investors,” the Prime Minister said.

Shehbaz Sharif highlighted the recent decline in inflation, noting it has dropped to its lowest level since 2018, signaling economic stability and recovery. He also mentioned that the government has finalized a comprehensive home-grown economic plan, which will soon be presented to the public.

“This plan reflects our commitment to steering the country towards sustainable growth,” Sharif added.

The federal cabinet also approved several key reforms, including the National Registration and Biometric Policy Framework. This policy aims to integrate citizens’ data, streamline government processes, and improve accessibility across major databases such as NADRA, SBP, and FBR.

These measures are part of the government’s broader strategy to enhance efficiency and promote transparency in public administration.

The government’s efforts to stabilize the economy and address public issues mark a step forward in Pakistan’s journey toward progress. With the SBP’s interest rate cut and upcoming economic initiatives, the leadership remains optimistic about the country’s future.