Islamabad, Dec 17: Prime Minister Muhammad Shehbaz Sharif on Tuesday expressed optimism about the central bank’s decision to cut the interest rate by 2% to 13%, stating that it would boost investment and stimulate economic growth in the country. The prime minister emphasized the importance of leveraging this positive development to promote domestic investment, which would, in turn, attract foreign investment.
The prime minister made these remarks while chairing a cabinet meeting, which began with a recitation of Fateha for the eternal peace of Siddiq-ul-Farooq and a policeman who was martyred in Karak during a terrorist attack on a polio workers’ team.
Key Highlights from the Meeting:
- Polio Eradication Efforts: Addressing the persistent challenge of polio eradication, Prime Minister Sharif regretted that despite global progress in eliminating the virus, Pakistan still faced challenges in becoming a polio-free country. He reiterated the government’s commitment to overcoming these hurdles and continuing efforts to eradicate the disease.
- Tragic Loss in Greece: The prime minister also expressed deep sorrow over the tragic boat capsizing incident near Greece, which resulted in the loss of Pakistani lives.
- Economic Indicators: Welcoming the reduction in the interest rate, the prime minister highlighted that this would provide relief to businesses and investors, marking a positive step for the economy. He also noted that the inflation rate had dropped to its lowest level since 2018, calling it a significant development.
- Local Investment and Economic Plan: Emphasizing the importance of promoting local investment, Prime Minister Sharif shared that the government had finalized a home-grown economic plan, which will be formally unveiled in a special event soon.
The prime minister’s focus on domestic investment underscores the government’s commitment to fostering a business-friendly environment and driving economic growth through local initiatives.
