Worldwide organizations affirmed Pakistan’s financial progress: Hafeez Shaikh

ISLAMABAD: Adviser to Prime Minister on Finance Hafeez Shaikh on Tuesday stated that worldwide organizations had been affirming Pakistan’ financial progress, ARY Information reported.

Addressing a press convention together with Minister for Financial Affairs Hammad Azhar and FBR Chairman Syed Shabbar Zaidi in Islamabad, Hafeez Shaikh stated that Moody upgraded Pakistan’s sovereign outlook to steady from destructive which affirmed the federal government’s success in financial stabilization.

He stated that Bloomberg had additionally endorsed the Pakistan’s sturdy financial indicators and termed the nation’s inventory ‘world-beating’.

The adviser stated that IMF has additionally lauded the tempo of Pakistan’s financial progress and added that the fund has determined to launch the second tranche of 50 crore {dollars} to Pakistan.

He stated that for the primary time in Pakistan’s historical past, portfolio funding reached to 1 billion {dollars}. Hafeez Shaikh stated that exports elevated by 10 p.c and direct international funding rise by 236 per cent over the last 5 months.

He stated that present account rose into surplus and added that the financial system was on track.

Learn Extra: Moody’s modifications Pakistan’s outlook to steady from destructive

Earlier on December 2, one other excellent news for Pakistan on the financial entrance, as Moody’s score company had modified Pakistan’s outlook to steady from destructive.

The Moody’s had saved Pakistan’s score outlook unchanged to B-3. It additional had stated the Pakistani financial system was bettering and the most important problem being confronted by the Pakistani financial system, the present account deficit, was additionally shrinking.




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