**KARACHI:** Prime Minister Shehbaz Sharif stated that the policy rate could be further reduced by 8 percentage points, despite already being brought down to 13 percent.
While addressing a ceremony at the Pakistan Stock Exchange (PSX), the prime minister said, “The policy rate has been reduced to 13%, but there is still room for an 8-point reduction. I would like to see the interest rate further lowered to 6%.”
He emphasized that the government’s primary objective is transition from macroeconomic stability to economic growth. He added that he plans to consult financial experts from Karachi and other cities to achieve national economic goals through a unified vision and collective efforts.
PM Shehbaz expressed optimism about receiving proposals for implementing an export-led growth strategy and fully utilizing the country’s natural resources.
Discussing the privatization of state-owned enterprises, the prime minister assured that the process would be carried out with complete transparency.
He noted that the economy is stabilizing and that the journey toward expansion has officially begun. Highlighting the progress, PM Shehbaz said Pakistan’s economy is on the mend, though challenges remain, and stressed the importance of continued growth. “If everything were perfect, we’d be living in a fool’s paradise,” he remarked.
The prime minister affirmed Pakistan’s commitment to meeting its obligations to the International Monetary Fund (IMF) but expressed hope that the country would eventually part ways with the IMF in the future.
He also noted the tax targets for the next six months, which were set clearly and would be met through diligent efforts.
The premier, who is in Karachi for a day, highlighted the significance of economic progress in the country and expressed his happiness at seeing the stock market for the first time.
He said that Karachi is the hub Pakistan’s economy, adding that the city’s once-dimmed lights have now returned, signifying the country’s economic resurgence.
The prime minister called on experienced economists to guide the country’s financial recovery and sought actionable recommendations for further improvements.
He stressed the need for the private sector to play a larger role in the economy’s growth, with an emphasis on the importance of increasing tax revenues.
Earlier in the day, the prime minister was received by Sindh Governor Kamran Tessori and Sindh Chief Minister Murad Ali Shah upon his arrival at Faisal Air Base in Karachi.
PM Shehbaz will also inaugurate the new faceless customs assessment system aimed at improving the efficiency and transparency of the customs clearance process.
