At a federal cabinet meeting on Tuesday, Prime Minister Shehbaz Sharif hinted at a potential winter relief package aimed at reducing power costs and boosting business confidence.
He outlined specific measures to support the economy and create jobs, acknowledging current challenges but expressing confidence in Pakistan’s resilience.
Following his recent visit to Riyadh, the Prime Minister shared that a Pakistani delegation had headed to Saudi Arabia to explore collaboration in mining, solar energy, and IT—sectors where both Saudi Arabia and Qatar are actively seeking skilled labor.
He urged the IT ministry to devise a plan to meet this demand with internationally qualified professionals.
The Prime Minister also highlighted business agreements with Saudi Arabia and mentioned a potential $2 billion memorandum of understanding with Azerbaijan, describing these developments as “positive signals” for enhanced economic cooperation.
He praised the State Bank of Pakistan for lowering the policy rate from 22% to 15%, a move he said would reduce the national debt by Rs1.3 trillion.
This rate cut is anticipated to encourage investment in business, agriculture, and exports, providing essential fiscal space and promoting economic stability.
