During a federal cabinet meeting on Tuesday, Prime Minister Shehbaz Sharif hinted at a forthcoming winter relief package aimed at reducing power costs and bolstering business confidence.
He outlined specific measures to support the economy and enhance job creation, acknowledging the challenges while remaining optimistic about Pakistan’s resilience.
Following his visit to Riyadh, he reported that a Pakistani delegation had left for Saudi Arabia to explore partnerships in mining, solar energy, and IT sectors—where Saudi Arabia and Qatar need skilled labour.
He called on the IT ministry to formulate a strategy that ensures the workforce comprises internationally qualified professionals.
Sharif also referenced business-to-business agreements with Saudi Arabia and a potential $2 billion memorandum of understanding with Azerbaijan, describing these as “positive signals” for economic cooperation.
He praised the State Bank of Pakistan for lowering the policy rate from 22% to 15% earlier this year, a move expected to reduce the nation’s debt burden by Rs1.3 trillion.
This rate reduction is anticipated to encourage investment in business, agriculture, and exports, thus providing the fiscal leeway necessary for economic stability.
