ISLAMABAD: Stressing the need to help boost morale, Prime Minister Shehbaz Sharif on Tuesday hinted that a winter power relief package could be announced.

“We are gradually implementing policies to help the masses by generating employment opportunities and managing the economy,” said Prime Minister Shehbaz, chairing a federal cabinet meeting in Islamabad. He said it was a difficult journey, but only nations that faced the challenges were destined to succeed.

The Prime Minister told cabinet members that following his recent visit to Saudi Arabia, a Pakistani delegation had left for the Kingdom to discuss cooperation in the mining and minerals, solar energy and energy technology sectors. skilled information for which both countries need labor. Saudi Arabia and Qatar.

He asked the IT Ministry to make a presentation to explain its strategy to produce a world-class IT workforce to enable it meet the demands of both countries.

Calling for rapid action on B2B MoUs with Saudi Arabia, Prime Minister Shehbaz said the Azerbaijani government has also given the green light to the signing of $2 billion MoUs aimed at strengthening bilateral cooperation.

“These are good signals. How we benefit from it is up to us,” he remarked.

Welcoming the reduction of the policy rate by the State Bank of Pakistan (SBP) to 15 per cent, he said the government’s economic stability measures were bearing fruit.

The Prime Minister said a further 2% reduction in the policy rate would be a positive development for the business, agriculture, exports and trade sectors.

He said the central bank had gradually reduced the policy rate from 22% to 15%, encouraging citizens to invest their money in the economy to create jobs, improve production and exports.

“The reduction in the policy rate will reduce the debt burden by Rs 1.3 trillion, providing huge relief and creating large fiscal space for the country,” he said.

Prime Minister Shehbaz expressed hope that the country’s economy would strengthen if the indicators continued to develop positively.