Prime Minister Muhammad Shehbaz Sharif has said the reduction in policy rate of two percent by the State Bank of Pakistan will help boost investment in the country and stimulate the economic growth.
Chairing the Federal Cabinet meeting in Islamabad today, he said it is a welcoming sign for the businesses, industries, agriculture, investment and exports.
The Prime Minister said scaling down of the policy rate would provide relief to businesses and investors.
He expressed satisfaction that the inflation has also dropped to its lowest level since 2018.
Shehbaz Sharif emphasized the importance of promoting local investment and announced that the government had completed a home-grown economic plan, which will be formally unveiled in a special event soon.
Talking about the unfortunate incident of boat capsizing near Greece, the Prime Minister termed illegal immigration as a serious challenge. Addressing the persistent challenge of polio eradication, the prime minister regretted that while the polio virus had been nearly eradicated worldwide, Pakistan is still facing the obstacles in becoming a polio-free country.
The Cabinet also offered faeha for the departed soul of senior PML-N leader Siddiqul Farooq and the policeman who was martyred in a terrorist attack while escorting the polio team in Karak, Khyber Pakhtunkhwa.
