Finance Minister Aurangzeb Announces Interest Rate Cut as Pakistan Moves Towards Economic Stability

Islamabad: Federal Finance Minister Muhammad Aurangzeb announced that the central bank has reduced interest rates, signaling progress towards economic stability in Pakistan.

Speaking at an event in Islamabad, Aurangzeb noted that positive news is emerging for the economy, with Fitch Ratings improving Pakistan’s credit rating. He highlighted that the State Bank of Pakistan’s decision to cut interest rates is a significant step forward, and the new IMF loan program has enhanced global confidence in Pakistan’s economic outlook.

The Finance Minister emphasized the government’s commitment to promoting private sector activity and stated that the government will not interfere in areas already handled by the private sector. He also mentioned that Prime Minister Shehbaz Sharif aims to make the current IMF program the last one for Pakistan, reflecting a move towards long-term economic independence.