President Mamnoon Hussain Thursday said Karachi is regaining its status of 'city of lights,' and the targeted operation in the city will continue till last terrorist is eliminated and peace is fully restored. The President was addressing the business community at 3rd FPCCI Achievements Awards ceremony, organised by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here.
He emphasised that the people should not be disappointed and be confident that Pakistan is now moving on the right path. The process of economic prosperity and development has started and the entire nation must contribute in one way or another, he added. He said the economic stability has become the national agenda and all the national institutions are working for its execution as a strong chain.
The President said the present government has taken right decisions and set priorities in the light of ground realities. As a result of the best strategy of the government, the State Bank of Pakistan (SBP) has reduced the discount (policy) rate further. Now, private banks would extend more loans that would encourage investment in the country and the exports would increase significantly, economic growth would be higher and more jobs would be created.
President Mamnoon Hussain said this positive shift in economic sector has provided a strong base for economic stability in the country. The international institutions as well have endorsed the positivity of economic indicators in Pakistan, as their reports suggest that Pakistan's position is improving in the international rating. Recounting the reasons behind economic instability, the President said the country is confronted with energy shortages. But, he continued, in the past no serious efforts were taken to overcome this problem, nor terrorism was dealt with strategically.