ISLAMABAD: Prime Minister Shehbaz Sharif has expressed satisfaction over the upgradation of Pakistan’s credit rating by the international rating agency Moody’s.

Chairing a review meeting related to the progress of country’s economy and investment on Wednesday, he said the economy is on the path to growth after stability as we saved country from default.

The meeting was briefed about the improvement in country’s rating by Moody’s and progress on investment agreements with friendly countries in various sectors and ongoing projects.

Moody’s upgrades Pakistan’s ratings to Caa2, outlook now positive

It was also informed about the progress on projects under the second phase of China-Pakistan Economic Corridor (CPEC).

According to a statement of the PM’s Office, the prime minister stated that upgradation of country’s rating to Caa2 by Moody’s is as an acknowledgement of sound economic policies of the government.

He hoped that the country’s economy will continue to move forward at the same pace in a positive direction.

The prime minister said keen interest of friendly countries to invest billions of rupees in Pakistan’s various sectors is a result of business-friendly policies of the government.

He categorically said any delay in the implementation of investment projects from friendly countries is not acceptable. He directed all ministers and relevant institutions to take steps to accelerate the pace of proposed projects.

He further highlighted the enormous investment potential in different sectors of the country, including information technology, agriculture, minerals, gemstones and energy. He said that foreign investment in these sectors will not only boost exports’ volume but it will create job opportunities for the youth.

The prime minister directed authorities concerned to ensure transparency in all projects and their implementation on a priority basis, as well.

Copyright Business Recorder, 2024