Adviser to the Prime Minister on finance Dr Abdul Hafeez Sheikh along with the Federal Minister for economic affairs Hammad Azhar and chairman FBR Shabar Zaidi on Tuesday had a press conference in Islamabad. This press conference was to highlight the improving economic indicators of the country by the International organizations.
Adviser to the Prime Minister said that all the entities with which Pakistan is linked economically are appreciating the reforms of the government. He said that Asian development bank with which Pakistan is linked majorly has acknowledged the improvement in the Pakistan economy and has announced a $3 Billion rise in the program.
He also highlighted the visit of the president of the World Bank who in his visit to Pakistan Recognized the improvements and the efforts in the Pakistan Economy. President World Bank also directed to improve ties with Pakistan.
Adviser also mentioned the recent report of the IMF regarding its program with Pakistan. He said that IMF believes that all the agreements which were made by the Pakistani Government have been befittingly achieved. According to the IMF Pakistan growth rate will start to increase in the year 2020.
Main reason for the press conference was to highlight the fact that MOODY has upgraded Pakistan’s outlook to stable which was previously negative. Participants of the press conference emphasized on the fact that the reforms and incentives of the government are proving to be fruit full for the country.
Adviser said that the trust of the local investors is the reason for the stock market to cross mark of 40,000.he also stated that the foreign direct investment has seen an increase of 256% this year compared to the last year.
Stating all these facts participants highlighted the improvements in the Economy of the country and acknowledgment of the improving economic indicators international.