ISLAMABAD: Federal Minister for Finance Senator Muhammad Aurangzeb has said that the confidence of global financial institutions and foreign investors in Pakistan’s economy is steadily increasing. Talking to the media, he described the improvement in Pakistan’s rating by the international rating agency Fitch as a clear proof of the country’s economic reforms.
The Finance Minister informed that Fitch has upgraded Pakistan’s rating from ‘Triple C +’ to ‘B-minus’, which is an important development. “We are taking continuous steps to further improve the rating, including giving all possible relief to the people, including reduction in electricity prices.
He informed that remittances of Pakistani expatriate workers are likely to reach $38 billion this year, which is a very positive sign for the country’s economy. “We are moving towards sustainable economic stability and the results of the current government’s actions are now clearly visible,” Aurangzeb stressed.
Terming the significant decline in the inflation rate as a result of the government’s efforts, the Finance Minister said that these positive changes are leading to an increase in the confidence of global institutions and foreign investors. He said the current economic policies are leading the country towards stability and more improvement is expected in the coming days.
According to economists, these developments will play an important role in improving Pakistan’s relations with international financial institutions and attracting foreign investment. The data released by the government shows that economic indicators are moving in a positive direction, which has brightened the prospects of stabilizing the country’s economic situation.
