Prime Minister Shehbaz Sharif said Monday a reduction in the policy rate will boost business activities, exports, and employment opportunities in the country, Radio Pakistan reported.

“Pakistan’s economy has stabilised,” he said at a meeting of the Pakistan Muslim League Nawaz (PML-N) Parliamentary Party.

Higher than market consensus: SBP reduces key policy rate by 250bps, takes it to 15%

He said the State Bank of Pakistan (SBP) has reduced the policy rate by 250 points. He said following the decrease of 250 points, the reduction of the policy rate from 17.5% to 15% is welcoming.

The premier said inflation has scaled down from thirty-eight percent to seven percent, while the national and international institutions are a testament to the stability of the country’s economy.

PM Shehbaz said the nefarious designs of those, who want to spread chaos and bring the country to the brink of bankruptcy, have failed.

Inflation in Pakistan clocks in at 7.2% in October 2024

He said history will always remember those in golden words who sacrificed their politics for the survival of the country.

PM Shehbaz said a new chapter has been added to the Pakistan-Saudi investment partnership during the recent visit to Saudi Arabia.

He said during the Future Investment Initiative, a detailed discussion was held with the Saudi leadership, especially Saudi Crown Prince Mohammed bin Salman.

He said Saudi Arabia is a long-lasting friend and partner of Pakistan, adding that the Saudi leadership assured all kinds of support for the stability and development of Pakistan’s economy.

Pakistan’s bilateral partners to continue rollovers during IMF programme: SBP governor

The premier informed the PML-N Parliamentary Party that during the visit to Qatar, the Qatari leadership also assured an increase in investment in Pakistan.

He said talks were held to give practical shape to the projects worth three billion dollars of Qatari investment in Pakistan.

He said Qatar will invest in various sectors including aviation, hoteling, Information Technology, and energy sectors in Pakistan.

PM Shehbaz said the government is taking steps on a priority basis to facilitate investment and increase foreign investment in Pakistan.

He said the reform agenda is being implemented in every sector of the country.

The premier said FBR has been directed to honor such people who pay taxes as they are ambassadors of Pakistan.

During the meeting, the PML-N Parliamentary Party was also taken into confidence regarding the proposed legislation bill in the National Assembly.