The Finance Minister of Pakistan, Muhammad Aurangzeb, recently addressed the nation, expressing optimism about the country’s economic trajectory. He highlighted a further drop in inflation and a likely easing of the policy rate by the State Bank of Pakistan (SBP). Inflation, which has already decreased to 6.9% in September 2024, the lowest in over three years, is expected to decline further due to stabilizing commodity markets, a strong currency, and positive reforms.
Aurangzeb also noted the SBP’s recent 200 basis point reduction in the key policy rate, from 19.5% to 17.5%, reflecting confidence in the country’s economic stability. However, he emphasized the negative impact of ongoing protests and strikes, which are costing the nation around PKR 190 billion per day. These disruptions, he said, are bleeding the national exchequer and impeding growth, urging stakeholders to engage in dialogue instead of agitating.
The minister also conveyed condolences over the tragic deaths of Chinese engineers in Karachi, who were working on important energy projects. These engineers had been collaborating on renegotiating independent power producer (IPP) agreements, a vital initiative for energy sector reform in Pakistan(
The News
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Islamabad Post
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