Prime Minister Shehbaz Sharif announced that government efforts are bearing fruit, with inflation falling to a 70-month low of 4.9 percent. He made these remarks while chairing a federal cabinet meeting in Islamabad on Monday.
The premier expressed confidence that the reduction in inflation would ease the financial burden on the public, adding that the State Bank of Pakistan might lower the policy rate in response to the declining inflation.
PM Shehbaz also noted the adverse impact of recent protests in Islamabad, which caused the Pakistan Stock Exchange (PSX) to plunge by 3,000 points. However, he highlighted the market’s recovery the following day once normalcy was restored in the capital.
Stressing the importance of economic growth, the prime minister called for focused efforts to boost GDP. He urged improvements across sectors, including enhanced exports, remittances, production, industrial growth, employment creation, and the development of Special Economic Zones.