Headline: Prime Minister Shahbaz Sharif Announces Reduction in Interest Rates, Resulting in Rs. 1300 Billion Relief in Debt

Islamabad: Prime Minister Shahbaz Sharif has announced that the reduction in interest rates will lead to a decrease of Rs. 1300 billion in Pakistan’s debt burden. Speaking at a federal cabinet meeting, the Prime Minister highlighted that the cut in the policy rate will bring significant benefits to the country, boosting investment, production, exports, and creating job opportunities.
Shahbaz Sharif emphasized that the reduction in interest rates by 2.5%—from 22% to 15% over the past few months—marks a positive step for Pakistan’s economy. He expressed hope that the country’s economic indicators would continue improving, ultimately strengthening the national economy.
The Prime Minister also informed that a high-level Pakistani delegation had departed for Saudi Arabia following the recent parliamentary session. The delegation will engage in discussions on the agreements reached during Prime Minister Shahbaz Sharif’s visit to Saudi Arabia and his meeting with Crown Prince Mohammed bin Salman. The Saudi Crown Prince had expressed strong support for Pakistan’s development and urged faster decision-making on joint initiatives.
Furthermore, Prime Minister Sharif pointed out that there were promising developments in sectors like mining, solar energy, and particularly information technology (IT). He stressed that Pakistan’s skilled IT professionals are in demand globally, particularly in countries like Saudi Arabia and Qatar. He expressed hope that the Ministry of IT would capitalize on these opportunities.
Highlighting the growing international cooperation, the Prime Minister mentioned that Pakistan is making significant strides in business-to-business agreements. He revealed that Azerbaijan is ready to sign deals worth $2 billion, with its president sending a message of readiness for the agreements.
Addressing the reduction in the policy rate, the Prime Minister reiterated that the decrease would reduce Pakistan’s debt burden by Rs. 1300 billion, providing immediate relief and laying the foundation for long-term economic benefits. He urged continued progress, emphasizing that fostering a business-friendly environment and supporting the private sector are key to strengthening Pakistan’s economy.
In addition to economic measures, Prime Minister Sharif announced good news from the power sector, with an upcoming package aimed at providing relief to the economy and ordinary citizens, particularly during the winter season. This, he believes, will help expand industries, create jobs, and support Pakistan’s economic growth.
He concluded by stressing that success can only be achieved through collective efforts, determination, and a willingness to face challenges. Pakistan, he said, is on the path to prosperity with the combined efforts of all its citizens.