Prime Minister Shehbaz Sharif on Tuesday emphasized the need for further reductions in Pakistan’s policy rate, stating that an additional 8 percentage points could slash it despite the recent cut to 13%.
“I would like the interest rate to be further reduced to 6%,” he said while addressing a ceremony at the Pakistan Stock Exchange (PSX).
The prime minister highlighted the government’s focus on transforming macroeconomic stability into sustained economic growth.
He announced plans to engage financial experts from Karachi and other cities to create a unified strategy for achieving the country’s economic targets.
Shehbaz called for actionable proposals to drive export-led growth and capitalize on Pakistan’s natural resources.
“Pakistan’s economy is back on its feet,” he said while emphasising the need for future expansion. He added that the country is moving in the right direction despite ongoing challenges.
On the privatisation of state-owned entities, the premier assured a fully transparent process, citing the example of the ongoing privatisation of Pakistan International Airlines (PIA) and Islamabad Airport.
Reiterating the government’s commitment to fulfilling International Monetary Fund (IMF) conditions, the prime minister expressed hope that Pakistan would eventually outgrow its reliance on the global lender.
“There will come a time when we can say goodbye to the IMF,” he stated.
During his visit to Karachi, Shehbaz stressed the private sector’s vital role in economic growth and called for increasing tax revenues to meet national targets.
He lauded Karachi as the hub of Pakistan’s economy, symbolizing the country’s resurgence.
The prime minister also inaugurated the Federal Board of Revenue’s (FBR) Faceless Customs Assessment System to enhance efficiency and transparency in customs clearance processes.
