Islamabad: Prime Minister Shehbaz Sharif has expressed satisfaction over the State Bank’s decision to reduce the interest rate by 50 basis points. In a statement on Monday, he described the move as a positive step that will benefit both the business community and the common man.

According to Radio Pakistan, the Prime Minister noted that the hard work of the government’s economic team is bearing fruit. He commended Finance Minister Muhammad Aurangzeb, Minister of State for Finance Bilal Azhar Kayani, the Finance Secretary, and their team for their efforts toward Pakistan’s economic progress.

Shehbaz Sharif said the country is experiencing economic stability and is moving steadily toward development. He acknowledged the sacrifices made by both the business community and the people in achieving this stability.

The Prime Minister added that the government is striving to provide maximum relief to the people through economic improvements. He emphasized that the reduction in interest rates and the availability of soft loans will particularly benefit small and medium-sized enterprises.