2 weeks Ago By MATEEN HAIDER
ISLAMABAD - Prime Minister Shehbaz Sharif says reduction in policy rate will enhance business activities, exports and employment opportunities in the country. Presiding over a meeting of the Parliamentary Party of PML-N here yesterday, he said the economy of Pakistan is becoming stable. He said the State Bank of Pakistan has reduced the policy rate by 250 points.
He said following the decrease of 250 points, the reduction of policy rate from 17.5% to 15% is welcoming. He said inflation has scaled down from thirty-eight percent to seven percent, while the national and international institutions are testament to the stability of the country’s economy.
Shehbaz Sharif said the nefarious designs of those, who want to spread chaos and bring the country to the brink of bankruptcy, witnessed failure. He said history will always remember those in golden words who sacrificed their politics for the survival of the country. Parliament amends laws to increase tenure of Services Chiefs to 5 years, SC judges’ seats to 34 Shehbaz Sharif said a new chapter has been added in Pakistan-Saudi investment partnership during the recent visit to Saudi Arabia.
He said in the Future Investment Initiative, a detailed discussion was held with the Saudi leadership, especially Saudi Crown Prince Mohammed bin Salman. During the meeting, the PML-N Parliamentary Party was also taken into confidence regarding the proposed legislation bill in the National Assembly. Earlier, the prime minister chaired a meeting of the federal cabinet here.
During the meeting, he took the cabinet into confidence on the outcome of his recent successful visits to Kingdom of Saudi Arabia and State of Qatar, terming these as ‘successful and productive’. The prime minister said that he held very productive and useful consultations with the leadership of KSA and Qatar wherein different subjects like solar energy, mines, minerals and IT sectors were thoroughly discussed during the bilateral meetings. Global peace today confronted with ever-evolving threats: COAS He said a delegation of Qatar Investment Authority would soon visit Pakistan as Qatar had announced to invest $3 billion in Pakistan, adding Saudi Crown Prince Mohammed bin Salman, during a meeting, had told him that there was immense potential of IT trained people in Saudi Arabia and asked him to send the skilled people from Pakistan to his country since they required it.
The Amir of Qatar also hinted at setting up an IT park in Pakistan, he added. The prime minister said whereas Pakistan and Azerbaijan had also agreed to enhance the bilateral investment to $2 billion in diverse areas. He said the understanding between the two countries was reached during a visit of Azerbaijan President Ilham Aliyev in the shape of signing of agreements and memorandums of understanding (MoUs).
Tags: cut policy rate boost.
