PM welcomes SBP’s policy rate cut-down

ISLAMABAD, Dec 16 (APP): Prime Minister Muhammad Shehbaz Sharif on Monday welcomed the reduction in policy rate of State Bank of Pakistan (SBP) by further 2 percent and said that its current 13 percent rate bode well for the country’s economy.

He expressed the confidence that the decrease in the policy rate would further enhance investors’ confidence in the national economy and would spur investment, PM Office Media Wing said in a press release.

The prime minister said that lowering of inflation rate also brought down the policy rate, adding that in the future, the inflation rate would further come down.

He also appreciated the federal finance minister and other authorities for making efforts in this regard.