Pakistan's Opposition urges PM Imran to take crucial economic decisions

Leader of the Opposition in the National Assembly and PML-N President Shehbaz Sharif on Tuesday urged Prime Minister Imran Khan to call a meeting of the Council of Common Interests (CCI) to address the current coronavirus outbreak.

Islamabad [Pakistan], Mar 25 : Leader of the Opposition in the National Assembly and PML-N President Shehbaz Sharif on Tuesday urged Prime Minister Imran Khan to call a meeting of the Council of Common Interests (CCI) to address the current coronavirus outbreak.

He also offered the government various solutions for combating the economic fallout of the novel coronavirus in the country, DAWN reported.

He proposed slashing the interest rate by three to four per cent. He further proposed to double the salaries of medical staff.

He also asked to take the media on board and launching an awareness campaign.

Furthermore, reducing oil prices by 70 per cent to bring down inflation.

Later on Tuesday, During a media briefing, Prime Minister Imran Khan announced that petrol and diesel prices will be reduced Rs15.

"Petrol, diesel, kerosene and light diesel will all be reduced by Rs15 per litre," he said.

Pakistan has also cut its benchmark policy rate by 150 basis points to 11 per cent, a week after lowering the cost of borrowing by 75 bps, the central bank said.

The Central bank said, "MPC has decided to cut the policy rate by a further 150 basis points to 11 per cent. It noted considerable uncertainty about how the Coronavirus outbreak would impact the global economy and Pakistan.

( With inputs from ANI )