PM praises economic team for rate cut

Prime Minister Shehbaz Sharif on Monday lauded the economic team led by Finance Minister Muhammad Aurangzeb following the State Bank of Pakistan’s (SBP) decision to cut the benchmark interest rate by 50 basis points. In a statement, Sharif expressed confidence that the rate cut was a sign of positive momentum for the country’s economy. He framed the decision as part of broader efforts to stabilise the country’s economic outlook after months of volatility. “The government’s economic team, under the leadership of Finance Minister Muhammad Aurangzeb, has worked relentlessly to steer the country towards stability, and this decision is a reflection of their hard work,” he added. The prime minister specifically highlighted the contributions of Aurangzeb, Minister of State for Finance Bilal Azhar Kiani, and the Secretary of Finance, commending their efforts to bring about much-needed economic reforms.