'Economic reforms have revolutionised financial institutions'

In the last five years, the government's economic reforms and strategies have revolutionised financial institutions that meet the WTO standards.
Punjab Governor Lieutenant General Khalid Maqbool (Retd) expressed these views, while addressing the eighth South Asian Management Forum at Punjab University on Sunday, which was participated by the economists of Saarc countries.
He also said that the State Bank of Pakistan (SBP) and other regulatory authorities were working independently and process of giving financial resources to the Pakistani exporters have been made transparent by ensuring participation of private investors in the banking sector, which has enabled them to compete in the WTO environment.
According to him, at present, trade balance favours the country, as exports has shown an upward trend and this trend could only be maintained if our exporters produce according to the needs of the international market and of high quality too.
Under the WTO regime in 2005 textile quota would vanish and our textile exporters would have the opportunities to increase their market.