ISLAMABAD, Pakistan: The State Bank of Pakistan (SBP) has reduced the interest rate to seven percent, the Governor of the Centarl Bank Ashraf Mahmood Wathra announced on Saturday.
In a press conference in Islamabad, the governor said that the cut in interest rate will help generate business activity and attract more investment in the country.
The governor SBP said that the cut in energy and fuel prices will also promote economic activity.
Separately addressing a function in Islamabad, the Federal Minister for Finance Ishaq Dar urged the friendly countries to benefit from investment opportunities in Pakistan.
The finance minister said that the federal government through its prudent and investment friendly economic policies has opened up various sectors of economy for investment.
The minister said that Pakistan offers unique strategic location, attractive investment policies with lucrative incentives, huge comparative advantage, dedicated skilled and cheap labour force.
Ishaq Dar said that the government took bold decisions to stabilize the national economy.